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Would need in an hour.
Suppose the marginal social cost of providing health care to a person is given by the equation 20+4Q. An individual's marginal benefit of health care is 300-Q. This individual has an insurance policy that stipulates that the person will pay 25% coinsurance OOP. That is, the recipient of the care will pay 25% of the MSC.
a. Solve for the optimal level of consumption and price of health care for this society.
b. Solve for the private market equilibrium level of health care. What is the social cost for the last unit at this level? (May not be round numbers.)
c. Calculate the deadweight loss.
d. What are the total OOP costs for this individual?
Assume Firm Y's production function is given by the following Cobb Douglas equation: Q = 0.5 x L0.6 x K0.5 where L denotes labor and K denotes capital. a. Does the production function exhibit increasing, decreasing or constant returns to scale.
Calculate the price elasticity of demand for the product below using average values for the prices and quantities in your formula.
Three students want to order pizza for dinner and they have decided to play the following contribution game in order to collect the money. Each student takes turns in order to place money inside a jar. If at least two students contribute the pizza..
Karen earns $75,000 in the current period and will earn $75,000 in the future. Assuming that these are the only two periods, and that banks in her country borrow and lend at an interest rate r = 0, draw her inter-temporal budget constraint.
You are in the multimedia business. You create and store still images and videos. You need to plan for primary and backup storage of up to 3 years worth of your products. This project provides you the opportunity to research and investigate large ..
Joshua loans his son, Seth, $100,000 interest-free for five years. Seth uses the money for a down payment on his home. Assume that the applicable federal rate of interest is 5 percent.
For this assignment, you will be asked to to focus on a strategy: The College of IST wants to increase its enrollment by a total of 20% within the next three years. It wants you to provide ideas for each of Porter's four strategies.
While the location of the most advanced region or nation varied over time, this was merely change within an overall system which, can for purposes of global economic comparison with other empires and regions, be treated as a unity." Critically di..
1) How are scarcity, choice, and opportunity cost related? 2) What are the effects of an increase in the minimum wage in the U.S. economy? Who would be most affected? 3) Why is elasticity of demand greater for goods that are a large share of a consum..
Under the concept of equilibrium whenever dealing with quantity and price.
Given the industry's concern that workers shirk, they start employee at $10 and increase the pay by $0.40 each year they are on the job.
1. International Bank for Reconstruction and Development (IBRD) 2. International Development Association (IDA) 3. International Finance Corporation (IFC)
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