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Write 400-600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:
Health economists use demand and supply theory to discuss the "Health Insurance Exchange" created by the Affordable Care Act (Obamacare). Mandated by law everyone now must have health insurance.
Discuss the following:
How would the law affect the demand for health insurance? Why?
How would the law affect the average price of health insurance? Why?
How would the law affect the supply for health insurance? Why?
What condition holds when the firm is maximizing profits? Explain in words what the math of the answer means. (b) What conditions do the functions R(Q) and C(Q) have to satisfy for you to know that the quantity Q* that satisfies the condition in (..
In the Keynesian, Classical, as well as Solow model, Elucidate the impact of an increase in production technology
If you are the chief economist of a country experiencing high unemployment and flat GDP, what macroeconomic policies might you enact in response to these economic conditions? How would you expect these policy changes to impact the economy?
Joe owes Willy $5,000 from an old gambling debt. Joe knows that there is no way he can repay the debt in the near future. He asks Joe if he will take a $25,000 life insurance policy that has a cash surrender value
In spite of significant price increases for gasoline in the last two years, the amount of gasoline consumed has not decreased a lot--does this mean that gasoline is an exception to the law of demand or is there some other reasonable explanation?
Using a long-run Phillips curve, what is the effect on the unemployment rate if the inflation rate rises and people expect the rise.
Draw a graph showing hte above situation. Include in that graph, the monopolist's cost curves, demand and marginal revenue curves and the price and quantities that are indicated by the situation described above.
Explain why Canada should or should not take a leadership role in environmental practices and Fair Trade policies. This must be from a business perspective
What are the macro and micro problems? What systems are affected structural, psychosocial, technical, managerial, goals?
A pharmaceutical company can produce each pill of a new drug at a constant marginal cost given by MC = 5. Note that since the marginal cost is constant, then the average cost of producing pills is also
Because of a recession, the inflation rate expected for the coming year is only 3%. However, the inflation rate in Year 2 and thereafter is expected to be constant at some level above 3%.
Explain the science of economics in the presence of making a profit with scarce resources
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