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The market for physiotherapists is competitive. Chiropractic services and physiotherapy services are substitutes. Currently the price per visit is $40 and the quantity utilized is 30,000 visits annually. Physiotherapists face stiff competition from chiropractors. Currently, chiropractors charge $35 per visit and there are 15,000 visits annually in the region. The chiropractic association has decided to license another 20 practitioners in the region. This will lower the price to $25 per visit. There is no change in the supply of physiotherapists. What will be the direction of the effect of the change in chiropractors on the price and quantity utilized for physiotherapy services?
Two mutually exclusive alternatives are being considered for the environmental protection equipment at a petroleum refinery. One of these alternatives must be selected. Which environmental protection equipment alternative should be selected? the firm..
A brief look at Viet Nam's banking system, including its development, the role of the central bank, the currency, and the central bank’s influence on the level of prices. Interaction of the monetary system with the government’s fiscal policy, includi..
The president of the United States receives an annual salary of $400,000. Derek Jeter, shortstop for the New York Yankees, receives an annual salary of $23.2 million. If the president of the United States actually contributes more to society than Der..
Why are there extreme disparities in performance among private equity funds relative to disparities in performance among other asset classes and how would you go about improving your performance?
Convert this into a truth table. All the brand values are related to psychological feelings of the consumers. If the seller is able to maintain good brand value in the minds of the consumers, they will definitely lead the market.
When the interest on a loan is below market, a lender must offer a discount to induce the investor market (secondary market) to purchase the loan. Assume a house is worth $100,000 if purchased with all cash. The existing 9% assumable loan has monthly..
Given our current economic situation, determine the steps that the Federal Reserve should take to help stabilize our economy. Then, explain how each of the following variables will be affected by proposed steps that you have identified: money supply,..
Describe how the Federal Reserve is able to control the federal funds rate fairly closely and why this enables the Federal Reserve to have such good control over ALL short-term money market interest rates. Refer to changes in the Federal Reserve's ba..
Does the Secretary of the Department of Homeland Security have the authority to defer deportation for millions of undocumented immigrants and thereby make them eligible for government benefits?
Ssuppose which the benefit to the villagers of each additional cow grazing on the commons declines as more cows graze as each additional cow has less grass to eat than the previous one.
If expected inflation is constant and the nominal interest rate increased 5 percentage points, what would happen to the real interest rate?
There are many brands of laundry detergent, all equally effective. Would you expect the elasticity of demand for any particular brand to be high or low? Explain.
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