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Given this information, answer the following questions.
Cost Effectiveness
Current Treatment $100,000 4 life-years gained
New Treatment $250,000 10 life-years gained
A. Calculate the ICER for the new treatment, assuming that the new treatment would replace the old one.
B. In what quadrant is the ICER located in Figure 3-4? Is cost effectiveness analysis relevant?
C. How does the answer change if the cost of the new treatment equals $75,000?
An increase in the minimum wage
Copiers cost about twice as much as workers. Would you recommend they buy another copier or hire another worker?
A rather wealthy man decides to arrange for his descendants to be well educated. He wants each child to have $60,000 for his or her education. He plans to setup a perpetual trust fund so that six children will receive this assistance in each generati..
How do SMERF groups complement the business travel market?
The terms of trade between two countries refer to
Electric cars: Now consider the invention of cheap electric vehicles. Explain how you imagine the invention of cheap electric cars would affect the demand for gasoline? Why? Which determinant of demand or supply would be affected?
Each employer faces competitive weekly wages of $2,000 for blacks and $2,700 for whites. Suppose employers undervalue the efforts/skills of blacks in the production process. In particular, every firm is associated with a discrimination coefficient d,..
Stores need not accept your check but must accept currency because
Two alternative investment proposals are under consideration for a vacant owner by Urban Development Corporation. Plan A would require an immediate investment of $120,000 and first-year expenditure for property taxes, maintenance, and insurance of $4..
Draw ppf how each of the following events effects the location of a country's production possibilities curve a. the quality of education increases b. number of unemployed workers increased c. new technologies improves the efficiency of extracting cop..
Describe how much the consumer plans to spend in each year and how much she borrows or lends in the first year.
Please describe the policy suggestions you might have for the Federal Open Market Committee if you were appointed adviser to the Federal Reserve Bank. Imagine the country is experiencing economic slump and the FOMC is not sure what monetary policy ac..
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