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Health insurance and demand for health care
Why is the depreciation of capital good a cost of society? In what ways does a person's health depreciate? Why might older people's health care expenditures increase in the Grossman model even though their desired health stocks may be lower? List at least three factors that might increase an individual's marginal efficiency of investment in health capital.
The deductible feature of an insurance policy can affect the impact of moral hazard. Explain this in the context either of probability of treatment and/or amount of treatment demanded. Describe the benefits to society from purchasing insurance. Describe the costs. Define and discuss the welfare gains from changes in insurance coverage.
If only risk-averse people will buy health insurance, why do many people who buy health insurance also buy lottery tickets (an activity more consistent with risk taking)? Speculate on the differences and similarities.
Why are firm-specific demand price elasticities higher than elasticities for demand in general? Why does a high elasticity indicate a very competitive market?
It has been discovered that countries with higher per capita incomes spend more than proportionally as much on health care. What does this imply about the cross-national income elasticities? Why might this occur, even though individual income elasticities seem to be quite low?
Government needs to eliminate the gap by changing expenditures. What policy would you suggest.
Elucidate your answer also describe terms relevant to elasticity used in your explanation.
Question based on Laffer Curve : Tax Rate and Tax Revenue, Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?
Compute the monopoly equilibrium. Compute the consumer surplus. Assume this firm practices two-parts tariffs, Compute the optimal output.
If a monopolist is creating a level of output at which demand is inelastic and the firm is not maximizing profits.
Is this a good model for unemployment? What would you add to study the problem more completely? What assumption does this model make regarding unemployment
Suppose we have a competitive market for a good with domestic demand and supply given by:
Illustrate and explain the interaction of households, businesses, government and global markets in the circular flow of economic activity.
Explain the advantages and disadvantages of using a change in the tax rate to achieve the desired increase in output.
State with brief reasons whether the following statements are true, false, or uncertain.
If salary in the private organization are set equal to the value of the marginal product, how much will they rise yearly.
A perfect competitive firm has the cost function TC = 1000 + 2Q + 0.1 Q^2-What is the lowest price at which the firm can break even?
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