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Comparative effectiveness analysis

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?Comparative effectiveness analysis

Question:

At what point does more not equal better? That is a question many economists struggle with, but when the consumable good is years of life, everyone turns into an amateur economist.

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Refer to Figure 1 in The Pragmatist''s Guide to Comparative Effectiveness Research article. When responding to your classmates, be sure to use both cost (factor inputs) and survival (quality life years) in your retort. Which point on the curve do you advocate for and why?

Note: Figure 1 displays the association between factor inputs on the horizontal axis and survival/quality of life on the vertical axis. Point A falls far short of the production possibility frontier (labeled PF). Comparative effectiveness analysis can help the movement towards productive efficiency (point B), while cost-effectiveness analysis would identify the point at which productive and allocative efficiency is achieved (point C).

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This assignment is written in word and is based on the trade off between cost effectiveness and production effectiveness. The complete work is original here.

Reference no: EM131191139

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