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A question has arisen as to whether expensive treatment options such as surgery should be made available, despite the ability for patients to pay.
Answer the following questions:
1. Would the answer change if more insurance plans covered the expensive treatment options?
2. What are the economic implications if the facility absorbed the cost of treatment?
What is an example of perfectly elastic demand? What does this mean?
Around the world, demand for electric vehicles (EV) is growing according to the Centre for Solar Energy and Hydrogen Research. There have been more than 320,000 new EV registrations in 2014, bringing the total global market up to 740,000 vehicles.
Immediately prior to the beginning of year 2, LIBOR rates increase to 6 percent. What is the expected net interest income in year 2? What would be the effect on net interest income of a 2 percent decrease in LIBOR?
Describe why Aggregate Supply curve becomes increasingly steeply sloped at levels of RGDP near full employment and becomes especially steeply sloped beyond full employment RGDP
Economists are often criticized for making assumptions. Explain why are assumptions necessary? To think about this, you might consider an assumption that is often made,
Describe how the price system answers the five fundamental questions of economics, and discuss at least two of the short-comings of the capitalist price and market system.
The business world become more competitive. If we are to compete with firms in Singapore, Indonesia, and Malaysia, we must keep our costs down. Labor accounts for 75 percent of expenses.
At $300, a total of 10,000 ounces of output is profitable. Similarly, total production increases by 5000 ounces for each sucessive $100 increase in the price of gold. Describe the relevant relationship between the price of gold and the production ..
What is the contribution of the growth of total factor productivity growth (dA/A) to that growth? What is the contribution of a faster rate of capital growth compared to labor force growth α[dK/K - dL/L] to increases in Y/L?
1. if the hhi for the widget industry is 1200 then the market structure isa. impossible to determineb. an oligopoly.c.
What do Tom's indifference curves relating Hamburgers (horizontal axis) to Hot-dogs (vertical axis) look like Graph and explain the shape of your indifference curves. Do these indifference curve imply that Tom will only eat hamburgers
Elucidate whether demand for that products and/or services is relatively price elastic or relatively price inelastic and explain why.
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