Reference no: EM133367492
1-Why would consumers ever choose insurance plans with largedeductibles?
2- During the last five years, average daily occupancy at the Autumn Acres nursing home has slid from 125 to 95 even though Autumn Acres has cut its daily rate from $125 to $115. Do these data suggest that occupancy would have been higher if Autumn Acres had raised its rates! What changes in nonprice demand factors might explain this change? (The supply, or the number of nursing home beds in the area, has not changed during this period.)
3- Your boss has asked you to describe how the demand for an over- the-counter sinus medication would change in the following situations. Assuming the price does not change, forecast whether the sales volume will go up, remain constant, or go down.
a. The local population increases.
b. A wet spring leads to a bumper crop of ragweed
c. Factory closings lead to a drop in the area's average income,
d. A competing product with a different formula is found to be unsafe.
c. A research study showing that the medication causes severe dizziness is published.
f. The price of another sinus medication drops.