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View Ivan Oransky's TED Talk, Are We Over-Medicalized? Think about what the presenter's view of the American healthcare system mean in terms of demand and utilization of healthcare services.Is this a sustainable model? How do capitalism and the human quest for continuous innovation affect the economics of healthcare?
1.Explore why lump sum tax, even though efficient are rarely used.2.Using demand and supply analysis, discuss how a tax on labour income (hours of work available is fixed) creates excess burden between the paid and unpaid labour markets.
Severin, the herbalist, is famous for his hepatica. His total cost function is c(y) = y^2+10 for y>0 and c(0)=0. (That is, his cost of producing zero units of output is zero.) What is his marginal cost function? What is his average cost function?
suppose the market for hdtvs in the usa can be expressed by the following demand and supply equationsqd 7500 - 2400pqs
What were the opportunity costs of investments in the GMB project? What projects would you recommend for other cities/regions facing problems of industrial decline?
"Since the indirect utility function, under standard assumptions, is quasi-convex in prices, randomization over equilibrium prices can be Pareto improving even if fundamentals are not stochastic." Assess this claim and its implications or compatibi..
Under the assumption of a competitive market, what are the equilibrium price and quantity?Now, assume the government imposes a price ceiling of $30. How many DVD players are demanded and supplied at this price? Was a shortage created by this price ce..
At the end of 1973 Japan had a per capita real output of $14,379. If, on average, Japan’s real per capita output grew at a rate of 3 percent per year between 1973 and 1993. What would Japan’s output per capita have been at the end of 1993?
Economics is profitable for a firm to continue employing additional resources?
(40%) Bubba Wildcat has the opportunity to buy a tract of land under which he believes there is oil with 0.40 probability and natural gas with .60 probability. After buying the land he can choose to make a test drill for $10,000 to gather more inform..
The manager of a corporate division faces the possibility of an audit every year. She preferes to spend time preparing if she will be audited; otherwise, she would prefer to invest her time elsewhere.
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 110 - 0.5P, and the marginal cost of production is $140. a. Determine the optimal number of units to put..
Estimate the project's net cash flow over the 5 year estimated life - Determine the project's NPV and IRR (Use the excel formulas to determine this as well)
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