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The following are some case scenarios. List all the Federal and Nutrition and Health Care programs these following people are eligible for. Write a rationale on why you think they are eligible for the programs.
(Example –Case Scenario: Ms X is earning an income <133% of poverty level. My answer: Eligible to receive Medicaid –Rationale: Medicaid eligibility criteria includes anyone with poverty level <133%. Since Ms. X’s income is <133% of poverty level she is eligible to receive Medicaid)
a. An 18 year old lactating women with income of <130% of poverty level.
Identify an industry/market that in your own understanding, can be described as a “monopolistically competitive” industry (market). Discuss/explain your choice.
Employees bear the cost and earn the returns on investments in general training and employers bear the cost and earn the return on specific training. Is this statement true, false, or uncertain? Give an economic justification for your answer.
How did you decide what price to charge for your services? Did you think the price was worth more than the effort you put into it? Think about the competitive situation you faced in the business. Try to determine why the prices received by you or..
Economists say that excess capacity in monopolistically competitive markets is "the cost to society of variety." What is the cost that economists are talking about, and why is this cost the result of having a variety of goods and services?
It is reasonable to think that technological innovations in the banking sector have lowered the transactions costs that consumers face with regard to cash management. Our theory suggests that this should lead to lower real cash balances. Yet in the d..
As a currency appreciates:
State two economic principles of taxation and which principle best justifies the excise tax on gasoline, when the tax revenue is used to maintain or improve the roads.
"An end- of- aisle price promotions changes the price elasticity of a good from – 2 to – 3. If the normal price is $ 10, what should the promotional price be? NOTE: Use (P-MC)/P = 1/?e? to calculate MC and then use the same equation to find out the n..
Jane wants to buy a beautiful doll as a gift for her sister's birthday. She knows that the same product is offered in different shops with prices of $120, $100, and $80 with odds of one-third of finding each price. She just stopped at a shop and know..
There are n identical firms that produce microprocessor chips. Market demand is P = 1500 − Q and the cost to produce each chip is $300. Find the Cournot Equilibrium output by each firm, and the market price. How much profit does the merged firm make?..
Provide an example for each about decision-making, interaction and workings of economy. Explain how that influences marginal benefits and marginal costs associated with decision to purchase a house.
Tamiflu, produced by Roche, has so far been the most effective medicine to tackle bird flu. Roche was granted a patent on the drug which enables the pharmaceutical firm to charge higher prices and earn higher profits. Monopoly is inefficient as it ch..
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