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Instead of putting price ceiling on medical service, some states (e.g. Texas) put cap on malpractice lawsuit compensation. In your opinion, does medical litigation promote the practice of defensive medicine? Will a ceiling on malpractice compensation help to reduce the medical costs?
Suppose there are 2000 identical firms producing pumpkins in a perfectly competitive market and that the total cost curve for each firm is given by TC= (1/2q^2+5q+20.5) and MC = q+5. What is the typical firm's short-run supply curve? Derive and graph..
In the classical theory what factor determines aggregate demand, which in turn determines the price level? According to classical theory what three factors lead to long-term economic growth?
To be of value, a market segment must meet five criteria. Outline a talk focusing on examples of market segments that clearly fail to meet each of these criteria?
In the long run, perfect competition results in firms producing a. at the minimum point of their long-run average cost curves, which indicates allocative efficiency b. where price equals marginal cost, which indicates economic efficiency c. where pri..
Granny Butter and lugs Inc, pay an effective tax rate of 40% Granny is considering the purchase of a new churn for $28,000. this churn is a special handling device for food manufacture and has a savage value of $7,000 at the end of its estimated 4-ye..
if government regulates the maximum price monopoly can charge at $23: What is the monopoly’s regulated demand curve? monopoly’s regulated MR curve? Regraph the chart here and mark these curves in different colors. What is monopoly’s regultated output..
q1. at a university faculty meeting in 2000 a proposal was made to increase the housing benefits for new faculty to
A nation has a tax rate of 20% on the first $20,000 of taxable income, 30% on the next $30,000, 40% on the next $20,000 and then 50% on all taxable income above $70,000.
The demand for good x1 is given by: (m/p1) - (p1/p2), where p1=1, p2=1, and m=10.Which of the following accurately describes the INCOME elasticity of demand?
Suppose that doctors’ visits cost $20, and the typical consumer has an income of $100. Consumers spend all of their incomes on doctors’ visits and a “composite good” that costs $1 per unit. Draw a graph that illustrates the consumer’s budget constrai..
Discuss which economic theories or relationships you have studied up until now (not just in this class – in all your economics classes) that could be estimated using the multiple linear regression model. Explain your rationale. Provide examples to s..
Under the responsibility scheme proposed by the Hong Kong government, households will be charged for solid waste disposal. Is this charge justifiable from an economics point of view? Explain your answer with a diagram ( IT is Microeconomic question)
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