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Suppose the supply curve of medical services is perfectly inelastic. What is the shape of supply curve (e.g. vertical, horizontal, upward sloping)? Please also analyze the impact of an increase in consumer income on the market price and quantity of medical service.
In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition, monopolistic competition, collusive oligopoly, or competitive oligopoly? Explain your answer in the language of economics.
Explain the economic reasoning underlying the following statement: “People often fail to acquire information about the price they pay for medical services because of health insurance.” How the “imperfect” information about price hurt the health care market? Please cite a reference link (URL) to an article which supports your answer.
q1. a nation has a population of 260 million people. of these 60 million are retired in the military in institutions or
A stock is expected to pay a dividend of $2.50 per share indefinitely. The stock is expected to generate a return of 8 percent in the foreseeable future. Based on this information, Compute a fair price of this stock.
In the Romer endogenous growth model, what three factors determine an economy’s growth rate? Briefly explain (and ideally show in an impulse-response diagram) how a change in each factor affects growth.
A Post Office is set up in the Constitution but no Central Bank was. Why didn't the founders of the US who wrote the Constitution include a bank? How did this omission hamper US economic growth and, more importantly, US economic stability?
I think people would agree that the one most ubiquitous tool for welfare measurement in the economic literature and in economic education is the notion of total surplus. Throughout it's history, total surplus has been criticized several times and on ..
Jade Larson Antiques owes $20,000 on a truck purchased for use in the business. The company makes principal payments of $5,000 each year plus interest at 8%. Which of the following is true?
When we look at different economic policies we see that Keynesian, monetarist and supply-side economics advocate for restraining inflation and reducing unemployment?
conomist Robert Fogel focused on which of the following factors as one determinant of long-run economic growth.
Firm 1 and Firm 2 compete in an industry and must decide whether to introduce an upgrade to their existing products. The nature of the strategic interaction is described by the game box, where (Y) means “upgrade” and (N) means “do not upgrade”. Draw ..
"How has technology changed the purchasing and selling behavior?" what happened to your purchasing behavior once you adopted your smart phone, are you being more smartphonic in buying or selling items online.
Assume the value of a statistical life is $85,000,000 and that workers in more dangerous jobs are exposed to an additional 1/105 risk of death. How much more should the workers in the more dangerous jobs be paid (compared to the other workers)?
Suppose that after five years consumer spending doubles to 400. Explain how much do you believe will be the budget share of leisure.
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