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In class, we discussed the Macro effect of physician ratios in the United States. Compare and contrast the states with the highest and the lowest physician ratios. Explain how the standards of living change as each states ratio differs. Regarding the states with the lowest ratios, do you believe we shall see a rise or decrease in the cost of healthcare?
Which of the following is true concerning production in a free market economy? Which of the following represents how private property rights act as incentives in a free market economy?
Assume that the level of GDP increased by $100 billion in a private closed economy where the marginal propensity to consume is 0.5. Aggregate expenditures must have increased by.
The supply curve of a firm in the long run, is:
Suppose consumer 1 has the demand function given by D1(p) = 15−p and consumer 2 has the demand function given by D2(p) = (20 − p)/3. At what price the total quantity demanded by the two consumers is 7?
CER defaults on its loan payments to Bank One. Can Bank One attach the 100 stereo systems CER bought from Stereo Manufacturer.
In an open economy, why is the demand curve in the foreign-currency exchange market downward sloping?
Suppose the income elasticity of demand for pre-recorded music compact disks is +4 and the income elasticity of demand for a cabinet maker's work is +0.4. Compare the impact on pre-recorded music compact disks and the cabinet maker's work of a recess..
Why or why not? More generally, are pricing strategies such as odd pricing, price discrimination, cost-plus pricing, and two-part tariffs valid, ethical economic strategies? Why or why not?
Alex is willing to buy the last ticket to the Billy Bragg concert for $15, while Jake is willing to pay $25. Alex is first in line and buys a ticket for $15. Alex could sell his ticket to Jake for $20, but he can't because of government regulation pr..
A 1998 study indicated that the price elasticity of demand for four-year university was .67. Using this estimate, how would a 10% increase in tuition at a four-year university change expected enrollments? Do you think the price elasticity of demand w..
What is your interpretation of the phrase “act local, think global”? How would you use this knowledge as a global leader?
The Pukie-Duke Company asked you to determine some of the after-tax cash flows for equipment used for research and development that is being considered. Pukie-Duke has found a company that will make them a $200,000 loan for the equipment at 10% and 4..
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