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Graduates veer away from pediatrics and family medicine. "Since 1997 the number of medical school graduates going into pediatrics or family medicine has dropped by 50%. New doctors are opting instead for specialties such as orthopediac surgery, which pays an average of $480,000 a year, instead of pediatrics which pays $171,000".
First, discuss the decision by doctors to enter seperate markets for various specialities rather than starting a family practice. Second, discuss the monoploy that the American Medical Association holds on the production of doctors in the US and its implications on market prices and efficiency.
Briefly summarize your views on whether the total expenditures for health care in the United States are too high. Provide your rationale, including the criteria you are using for your assessment.
The first acre can produce 1000 bushels of wheat, the second acre 900, the third 800, and so on. How much revenue will each acre generate? what are the TR and MR for each acre?
Businesses usually decide in using automation and labor in production. An automotive environment may have high fixed costs and low variable costs,
About thirty United States localities circulate their own currency with names like "Ithaca Hours" and Dillo Hours." Doing so is perfectly legal although through law they are subject to a 10% federal tax, which currently the government is not collecti..
Compare the two graphs for GNP for Techistan and Growthistan. What is the difference in the final value of GNP for each country and Plot the growth rate for Techistan and Growthistan on one plot.
If there is asymmetric information what is the optimal strategy for the workers What is the optimal strategy for the firm Is the employment contract between the firm and the workers self-enforcing If yes, why If not, which would be a self-enforcing..
Explain the income effect and how this might influence ticket sales for NFL? Do you think Wrigley's will raise or lower their total Revenue by raising prices?
Show the impact on the equilibrium price and quantity that results from; (1) an increase in demand and (2) an increase in supply.
Economists make decisions by thinking in terms of alternatives. Why do economists thinks there is no such thing as a free lunch?
the concept of Social Security as originally envisioned by President Roosevelt; the viability of Social Security within the next 20-30 years; and 2-3 recommendations that would improve the viability of Social Security for the next generation.
Suppose a monopolist producing Q units of output faces the demand curve P =20 -Q. Its total cost when producing Q units of output is TC = F + Q2, where F is a fixed cost. The marginal cost is MC = 2Q. a) For what values of F can a profit-maximizing..
When a firm engages in cost-plus pricing and marginal cost equals industry price, revenue maximization occurs when a firm sells at a price
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