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The market for health care services can be examined using the tools of supply and demand. In this market, the quantity variable is hours of health care services. Consumers' demand health care services while doctors (or others) supply health care services. We will assume health care services are all of the same quality (so 1 hour of heath care service A is the same as 1 hour of health care service B). The market price is the price per hour of health care services (dollars per hour). Given this, suppose a law mandates that doctors cannot charge a price higher than Pmax, where this maximum price is set below the free market equilibrium price in this market. What will be the effect this law on the quantity demanded, quantity supplied and price paid for health care services? Who benefits and who loses from imposing this maximum price that sellers can charge/receive for health care services? (Note: given the price actually paid by consumers for health care must equate supply and demand. This price can include both monetary forms of payment and non-monetary forms of payment; in this example, what forms might such non-monetary payments take? That is, if health care must be "rationed" among consumers).
A State and explain 5 factors which affect the foreign exchange value of the Irish currency (Euro). B Irish exports have risen, in recent years. Discuss the effects of this development on each of the following: (1) The amount of borrowing by the Iris..
Congressional action taht allows oil drilling operation in more areas of the Alaska preserve.
You are approached by a client who would like to start his own business. The client plans to take the company public in five years. What are the benefits of organizing the business as a corporation?
Aero Company currently has net income of $3 million and 1. million common shares outstanding which sell for $20 per share. Aero has decided to issue new stock to raise $4,000,000 to expand its operations.
Fed Chairman Ben Bernanke finally confess that the Fed has been printing more new currency over last some months to help stimulate the economy and more recently noted economy may not yet be out of woods,
Assume that the market labor supply and labor demand equations are given through Qs = 5W and Qd = 30 - 5W. If a minimum wage is set at $4.00 (W = 4),
Use the firm's isoquant-isocost diagram and the firm's marginal cost curve to explain and illustrate the output and substitution effects of a decrease in the price of labor.
What is the type of market with many buyers and sellers, each having an equal effect on price?
Suppose a consumer has $150 to spend on food and clothing. Food costs $4 per unit and clothing costs $5 per unit. The consumer's utility function is U(c,f) = f^2c. a. Give an equation for the consumer's budget line. b. Give a formula for the consum..
Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit?
In the US the long-run inflation rate can be expressed simply as the growth rate.
The income terms of trade improve? Explain
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