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Suppose that doctors’ visits cost $20, and the typical consumer has an income of $100. Consumers spend all of their incomes on doctors’ visits and a composite good that costs $1 per unit. a) Draw a graph that illustrates the consumer’s budget constraint, putting doctor’s visits on the horizontal axis. Make sure you indicate the horizontal and vertical intercepts. Now, suppose the local government is considering two health plans. Under plan A, the government will give out vouchers worth 2 free visits to the doctor. Under plan B, the government will give out four 50% coupons to be used at the doctor’s office. b) Draw the new budget constraint the consumer faces under plan A. c) Draw the new budget constraint the consumer faces under plan B. d) For whom is the choice of plan A or plan B not likely to matter those who are quite well, or those who are quite sick? (Hint: Superimpose some indifference curves on your budget constraints.) e) Which plan would someone who is generally well be likely to choose, if offered a choice?
Hero Nakamura is CEO of the Cola King Bottling Company a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
Analyze a market environment with tacit collusion, including deterrents from entry.2. Evaluate the profitability of entering the market.3. Examine how the time horizon affects the profitability of entering the market.
Cournot (quantity) and Stackelberg (sequential) Two identical firms, Firm 1 and Firm 2, compete in quantity in a market where inverse demand is P(Q) = 100 − Q and there exists a constant marginal cost of 20 per unit. Find the quantities ˆq1 and ˆq2 c..
q.joseph jones a manager at computer science inc. csi received 10000 shares of company stock as part of his
Discuss the debate over whether the expansionary monetary or fiscal policy would have successfully pulled the U.S. economy out of the Great Depression. Discuss the changes in federal tax policies during the Great Depression. Explain their impacts ..
Present a thorough analysis of the inverse relationship between inflation and unemployment reflected by the Phillips curve. Describe the importance of expectations and how they affect the actual relationship between the inflation rate and the unemplo..
Capital, K, has a price of $16 perunit and labor, L, has a price of $8 per-unit. In the short-run capital is fixed at 8 units. Find the choice for labor necessary to produce 40 units of output at minimum cost.
Delta and Southwest Airlines announced a new round of fare discounts. In response Sangita Woerner, Vice President of Marketing at Alaska Airlines, said, “It’s unlikely that we will match these fare reductions because we do not anticipate any negative..
q. the demand and supply curves for t-shirts in touristtown u.s.a. are given by the following equations 3 pointsq24000-
Why are many consumers apt to be rationally ignorant about their options? Why would insurance coverage tend to increase rational ignorance? Why are so many economists opposed to licensure of medical facilities and personnel?
q.assume the working income tax benefit tops up a single individuals income by 25 percent of the amount that employment
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 million in withdrawals from other banks’ ATM machines. Estimates suggest t..
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