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Review key elements which characterize and define health insurance. Assemble a 400 word brief which identifies two of the most important characteristics of health insurance and provide for each characteristic identified:
• Two economic advantages to patients
• Two economic advantages to insurers
All of the following are considered to be problems associated with the use of concentration ratios to measure market power except:
In about 500 words, From a geographical standpoint, why is space, as in usable area on earth, so integral to the survival of Capitalism as an economic system?
Problem 1: Assume that the long run total cost function for each firm in a perfectly competitive industry is LRTC = q3 - 4q2 + 8q and the market demand function is Q = 2000 - 100p. Calculate:
Elucidate the value of a trucker's life disguised by compensating discrepancy among the two firms.
A city is spending $20 million on a new sewage system. The expected life of the system is 40 years, and it will have no market value at the end of it life. Operating and maintenance expenses for the system are projected to average $0.6 million per ye..
Government expenditure and investment has remained fairly constant as a fraction of GDP since 1950, even as transfers have risen. Most of state government revenue comes from the income tax, and most state and local government income comes from the sa..
Suppose the market for cigarettes is characterized by the following information: Calculate the magnitude of the consumer surplus and producer surplus in the pre-tax equilibrium. Calculate the tax revenue in the post-tax equilibrium. Calculate the cha..
According to the Keynesian sticky price theory, a rise in aggregate demand results in ___________ price level in the near term and in __________ price level in the long term. According to Keynes, the impact of a decrease in money suppply is a: Accord..
A manufacturing firm is attempting to determine whether an existing machine is capable of milling an auto part that has a key specification of 2±0.004 inches. After a trial run on this machine, they have determined that the machine has a process mean..
Illustrate what effect this could have on the price of cigarettes also the quantity of cigarettes sold
The town you live in is considering an excise tax on soda. It has been estimated the price elasticity of demand is 1.24. You have a friend that believes that tax will just be pushed on to consumers and it is a tax grab by the local government. Explai..
A fleet manager must choose between two trucks to purchase for a company's fleet. The company uses an interest rate of 5% and will keep either truck for 4 years. Truck A costs $28,000 and has a market value of $17,000 after 4 years. Determine the equ..
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