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Suppose from your randomized experiment you observed two data points about demand for healthcare:
- An average number of outpatient care visit of 2.65 per year among individuals who are assigned to health insurance plan with 40% coinsurance rate. And,
- An average number of outpatient care visit of 1.45 per year among individuals who are assigned to the same health insurance plan with only difference of 80% coinsurance rate.
a) Is the data you observed provide evidence for downward sloping demand? Why?
b) Calculate price elasticity of demand
c) Is the demand elastic or inelastic? Explain.
How do these readings expand your understanding of Buddhism and Islam? What did you find surprising in the way religion is practiced “on the ground” as opposed to reading about its theoretical practice
What is your view on copy technology from others ? How shall we preserve business integrity ? What starategies may be applied to protect intellectual properties ?
Dan and Neil are playing Settlers of Catan. Dan has rolled a seven and just put the stopper on a Field which touches one of Neil’s Settlements. Since Dan is a real jerk store, he decides to steal one of Neil’s two cards. Neil has a Grain and a Wool r..
Before the war, Iraq had the capacity to produce a certain amount of oil from its oil wells. After the war, it found that capacity greatly diminished because the oil wells were on fire. Draw Iraq’s PPF before and after the war, assuming that the only..
Explain how will this event affect the equilibrium price and quantity of Florida oranges.
Suppose that one day the personal printer is introduced into S land from another city and made readily available for purchase by households. Explain the effects of the personal printer on (a) the market area of Winkos and (b) the population of the..
Suppose that demand for a product is Q = 1000 – P and supply is Q = 9P. Furthermore, suppose that the marginal external damage of this product is $20 per unit. Suppose this is a negative production externality. Calculate the Q currently being produce..
Demand for good X has been estimated at Qxd = 12-3Px+4Py. Suppose that good X sells at $2 per unit and good Y sells at $1 per unit. Calculate the own price elasticity.
A land development company is considering the purchase of earth-moving equipment. The equipment will have a first cost of $190,000 and a salvage value of $70000 when he company sells it in 10 years. A service contract for maintenance on the equipment..
By how much has the money supply increased or decreased? If the money multiplier is 5, how much money will ultimately be created by this event?
What is the difference between nominal and real? Is nominal the same thing as natural? Please give examples with GDP, exchange rates, and money supply.
JET FAB bought a CNC laser cutting machine at a cost of $400,000 to meet the specific needs of customer that had given a 4-year contract with the possibility of extending the contract for another 4 years. Consequently, the company ended up selling th..
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