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1. The marginal cost pricing model calculates a mark up over marginal costs using estimates of the price elasticity of demand. Will any other pricing strategy result in higher profits?
2. Price discrimination needs the ability to distinguish customers who are the most price- sensitive and the ability to prevent arbitrage (resale of your products by customers who buy at low prices). What attributes of healthcare products make these tasks easy to do?
3. Explain some healthcare situations in which an agent has taken advantage of a principal. Now describe some healthcare transactions that have not taken place because of fears about asymmetric information.
4. What are some strategies for reducing adverse selection in insurance markets? What sorts of problems do these solutions cause?
A copy company wants to expand production. It currently has 20 workers who share eight copiers. Two months ago, the firm added two copiers, and output increased by 100,000 pages
A person chooses between leisure and consumption. The utility derived from any combination of leisure and consumption is given by the formula: u = LC - 88C where u is utility, L is the number of leisure hours per week, and C is the number of dolla..
What is meant by stagflation. What economic circumstances might lead to a period of stagflation. In terms of the AD/AS model and/or the Phillips curve model, explain what is necessary to end a period of stagflation.
Draw an aggregate production function with typical shape and label it "F". Make sure to label the axis of the graph. Now, add two more production functions based on the following scenarios. Efficient institutions are adopted in a country. Label t..
Amityville has a competitive chocolate industry with supply curve Ps =440+Q. While market demand for chocolate is Pd=1200-Q, there are external profits that the citizens of Amityville derive from having
Write your paper in the style of an academic journal article. The in-class readings, as well as articles published in The Rand Journal,
imagine that you work for the maker of a leading brand of low-calorie microwavable food that estimates the following
What are the advantages and disadvantages of using prepared, or canned, sales presentation? Give examples of when using a canned presentation might be better than using a less structured presentation.
Consider the following game: There are 5 pirates on a boat, conveniently named P1, P2 P3, P4 and P5. These 5 pirates have just dug up a long lost treasure of 100 gold pieces. They now need to split the gold amongst themselves, and they agree to do..
suppose you own a restaurant that serves only dinner. you are trying to decide whether or not to rent out your dining
prepare a one to two 1-2 paragraph journal entry that examines your learning experiences with orion in week 4 of this
government action is based on majority rule, whereas market action is based on mutual consent. The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken t..
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