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A major employer has just added health insurance coverage for its employees. Consequently, 5,000 of your patients will pay a $30 copayment rather than the list price of $100 per visit. These patients average 2.2 visits per year. You believe the price elasticity of demand is between ?0.15 and ?0.35. What is your forecast of the change in the number of visits?
Why is the demand for healthcare products usually inelastic?
You estimate that the price elasticity of demand for clinic visits is ?0.25. You anticipate that a major insurer will increase the copayment from $20 to $25. This insurer covers 40,000 of your patients, and those patients average 2.5 visits per year. What is your forecast of the change in the number of visits?
You are a manager for a regional health system. Using an estimate of the price elasticity of demand of ?0.25, how much will ambulatory visits change if you raise prices by 5 percent?
Changes in government spending and interest rates
Explain is contracting a government service out to some private firm the best way. Does it make economic sense to contract out some government services.
The manager of a corporate division faces possibility of an audit each year. She prefers to spend time preparing if she will be audited;
As the number receiving the bonus vary from year to year due to the state of the economy.
explain what will happen to real wage rate The real wage would decrease since there would be a larger working population. The real wage would increase as productivity increases.
At the same time, Chinese consumers' incomes have risen. Assume that cars are a norma good. Use a diagram of the supply and demand curves for cars in china to explain what has happened in the Chinese car market.
Explain whether every of the following transactions involves spot exchange, contract, or vertical integration.
Illustrate what are the pros and cons of regional trade areas such as the European Union and NAFTA.
Describe ways firms establish barriers to entry and explain how they benefit firms but not consumers.
Draw marginal revenue function for this firm. What is the profit-maximizing price for this firm? On the graph describe the area, this represents the net loss to society resulting from the monopoly power conferred by the patent.
Answer whether the following statements are true or false, explaining your answer in each case.
Suppose that in response to learning that some sick individuals were denied health insurance, the government mandates that insurance companies must offer insurance to everyone at unregulated rates.
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