Reference no: EM13840005
F8. Dr. Old requires that all services be paid for a time of treatment, in cash. If he decided to allow patients to pay with credit cards, will it increase or decrease price elasticity?It will increase price elasticity because more options of payment are begin to the patient.
F9. Which is more price elastic: the demand for Cesarean sections or the demand for vaginal deliveries? Why?
F10. A health economist tells you that the income elasticity of demand for household medical spending is 0.43. What does this mean?
F11. The economist then goes on to tell you that the price elasticity of demand for physician office visits is -0.12. What does this mean?
F12. The income elasticity of demand for liquor is estimated to be about + 2.1. Estimate the impact on consumption of liquor if income rises 40%; if income rises 10%?
F13. The income elasticity of demand for liquor is estimated to be about + .09. Estimate the impact on consumption of liquor if income rises 40%; if income falls 10%?.
F14. The income elasticity of demand for liquor is estimated to be about -.6. Estimate the impact on consumption of liquor if income rises 40%; if income falls 10%?
F15. When GoodPatient Hospital raised its fees for inpatient stays, its total revenues fell. When BadPatient Hospital raised its fees for inpatient stays, its total revenues went up. What can we conclude about the elasticity of demand for each hospital?
F16. The price elasticity of demand of outpatient visits is -1.0. If price increases by 10%, total revenues for outpatient visits will ____________. Why?
F17. The price elasticity of demand for nurse practitioner office visits is -0.1. If price decreases by 10%, total revenues for outpatient visits will ____________. Why?
F18. Identify two examples of a substitute and two examples of a complement for medical goods and services. Describe how cross elasticity is related to substitutes versus complements.
F19. Is chemotherapy a substitute for or a complement to cancer surgery?
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Is the budget deficit getting larger or smaller
: What can you say about trends. Is the budget deficit getting larger or smaller. What about the national debt. Why are people so concerned about the size of the national debt
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Draw context diagram data flow diagram for system described
: Draw a context diagram data flow diagram for the system described above. The format should be similar to the context diagram in figure 5-13 of your textbook.
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Tec partners was formed during the current tax year
: TEC Partners was formed during the current tax year. It incurred $10,000 of organizational expenses, $80,000 of startup expenses, and $5,000 of transfer taxes to retitle property contributed by a partner. The property had been held as MACRS property ..
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Probability of the state of nature
: Based upon the following data, what is the expected value of perfect information, assuming the probability of the state of nature that favors location A occurring is 0.50, the probability of the state of nature that favors location B occurring is ..
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Increase or decrease price elasticity
: F8. Dr. Old requires that all services be paid for a time of treatment, in cash. If he decided to allow patients to pay with credit cards, will it increase or decrease price elasticity?It will increase price elasticity because more options of payment..
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Explain the federal reserve to conduct monetary policy
: What are the functions of the 12 Federal Reserve District Banks, which serve as "bankers' banks". List the tools used by the Federal Reserve to conduct monetary policy. How are the monetary tools used to stimulate the economy when unemployment is hig..
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The world relative price of a cars
: Now suppose the world relative price of a cars is Pc/Ptv=1. A) In what good will each country specialize? Briefly explain why. B) Graph the new world price line for each country in the figures in problem 4, and ass a new indifference curve (U2) for e..
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The u.s. banking system banks are required to hold
: Suppose the Board of Governors has determined that continued increases in consumption and investment spending are likely to be inflationary. To control inflation, the Fed would most likely pursue policies that promote
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Trade secret protection
: Which of the following is true regarding trade secret protection? Which of the following is false regarding trade secret protection
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