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You are the manager of the surgery department at a hospital which serves mostly Medicare patients. The hospital performs 1,000 surgical operations per year using the traditional method. The Medicare payment for a surgical operation using the traditional method is 2,250 dollars and the cost to the hospital per operation is 1,750 dollars.
Compute the total revenue, the total cost, and the profit at the end of each year if the hospital continues to use the traditional method for surgical operations.
Describe the Harrod-Domar growth model, and explain precisely how the model illustrates dynamic instability. Why is it often called the “knife’s edge model”?
Two plants are emitting a uniformly mixed polllutant called gunk into the beautiful sky over Tourist Town. The city government decides it can tolerate total emission of no more than 100 kg of gunk per day.
What are potential reasons for income inequality across the economy. In some of our efforts to improve income inequality can we negatively impact productivity?
if sugar protectionism has the bad effects stated in the editorial, why dont congress and the president eliminate it?
a. What is the effect on East Asia’s willingness to trade? b. Assuming that each region is large enough to influence international prices, how do East Asia’s good-growing seasons in food affect the equilibrium international price ratio?
Suppose the government decides to increase taxes by $40 billion in order to increase Social Security by the same amount. Explain how will this combined tax-transfer policy affect aggregated demand at current prices.
At a restaurant that does not take reservations, people arriving at 7:30 normally have to wait for an hour, but some people arriving at that time give money to the hostess and are promptly seated.
If price elasticity of demand = -1.5 and price decreases by 10 percent, then
Explain how will this affect wages and number of workers in home construction. How will this affect the cost of building a home.
If a person can either fish or chop coconuts for subsistence, what does production look like.
Based on your graphical analysis, explain the predicted impact of Mr. Buchanan's proposed policies. Specifically state what happens to the exchange rate, the trade balance, the volume of imports, and the volume of exports.
Suppose David spends his income (I) on two goods, x and y, whose market prices are px and py, respectively. His preferences are represented by the utility function u (xy)= lnx + 2 ln y (MUx=1/x, MUy=2/y). Derive his demand functions for x and y.
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