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Most available studies of the effects of medical ccare on health outcomes use mortality as the measure of health. If there are other dimensions to health in addition to living versus dying that remain unmeasured (such as freedom from pain, mobility to move around freely, physical endurance to perform work) then how (if at all) might that alter our estimates of the marginal productivity of medical care?
If the price elasticity of soap is 2.5, and if the price goes up from $2.00 to $2.50, what will be the effect on the demand for soap? Hint: Calculate the percentage change in price and then plug into the elasticity formula: E = % change in quantity d..
Compare and contrast the four market structure models: Monopoly, Oligopoly, Monopolistic Competition, and Perfect Competition—including, but not limited to, assumptions/characteristics of each model, profit maximizing price/output combinations, short..
List and discuss a situation where emissions standards would be preferable to either pollution taxes or a system of transferable permits? Explain how an economist would determine the optimal level of a pollution tax. What is the major uncertainty in ..
systems analysis and design ndash the movement to objectspart 1 answer the module review questions listed below. these
1. draw a real expenditures curve on a graph showing a recessionary gap. explain what happens to real gdp when it is
Brenda owns a construction company that employs bricklayers and other skilled tradesmen. Her firm’s MRP for bricklayers is $22.25 per hour for each of the first seven bricklayers, $18.50 for an eighth bricklayer, and $17.75 for a ninth bricklayer. Gi..
A firm has the production function y = x1^1/2 * x2. In the short run it must use exactly 15 units of factor 2. The price of factor 1 is $75 per unit and the price of factor 2 is $2 per unit. Derive the firm’s short-run marginal cost function.
Consider a consumer with preferences defined over x and y. Is it possible that they would choose to consume some of both commodities when their income is I but would choose to consume only x when their income is I’ > I? If so, depict such a case. Oth..
Why are entrepreneurs willing to supply goods and services for consumers at attractive prices? Is it because they care personally about the consumers?
In the Heckscher-Ohlin model, if the share of country’s capital used in Computers is higher than the share of country’s labor used in Computers, then Computers must be the capital-intensive sector. Consider a specific factor model with labor as a mob..
Every may either 'cooperate' with its rival or 'cheat' in every period of play. If both cooperate, they earn $100 every in that period.
Predict what will happen to the economy in the short run if interest rates fall. Predict what will happen to the economy in the short run if firms perceive that the business climate is getting worse.
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