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1. Consider the budget set of an individual who consumes health care (HC) and all other goods (OG) . Set up the equation ?rst. Then draw the budget set, clearly mark the intercept with the axes, and also draw an optimal point into this budget set using an indi?erence curve. Now assume that the same individual purchases a health insurance contract with a 30% coinsurance rate at a premium p. Set up the equation of the individuals new budget constraint. Draw this constraint into the old graph, then re-optimize using the indi?erence curve (this is only a graphical analysis). Determine what happens in the new equilibrium. Does the individual buy more or less of OG. Does the individual buy more or less of HC. Explain why.
2. Repeat exercise one and assume the income is $50, 000. The price of a unit of health care is $225 and the price of a unit of OG is $340. The insurance premium is $5, 000 and the coinsurance rate is still 30%. Draw all graphs again and be precise with the budget constraints. You know that in equilibrium the individual buys 120 units of HC. Find the optimal point and draw the indi?erence curve. Then draw the new budget constraint with the insurance and re-optimize. The re-optimization is just graphical, you do not have to calculate anything for that.
Guthrie Enterprises needs someone to supply it with 230,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you've decided to bid on the contract.
Describe the concept of the law of "diminishing returns" and why does it take place only in short run? Differentiate between "the long run return to scale" and "economies of scale."
Construct a numerical example to show that as marginal product (MP) rises, marginal cost (MC) falls. Explain your answer and use tables and graphs to illustrate.
The long-run Phillips curve suggests policymakers choose between alternative and which of the following will shift the aggregate demand schedule to the right?
Hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a market economy. and analyze at least three (3) possible areas for the industry that could lead to transaction costs, and explain each in detail.
Assume that you became president of small theater company. Your playhouse has the 120 seats and small stage. The actors have national reputations, and demand for tickets is enormous relative to number of seats available
How will the programs affect the debt? How will they affect private investment? Is crowding out a concern in the short versus long run as a result of the proposed policies?
The Wall Street Journal reported that recent law school graduates were having a very difficult time getting jobs in the legal profession. Many law schools said that ten to 20% of their graduates still had not found jobs.
Mention five ways you are affected on a daily basis by government intervention in the market. For what reason might government be involved? Is that reason justified?
How the Balance Sheet for Bank Z would look like after it loans out its Money to Mr. Chansa and suppose Mr. Chansa Deposit his Money into Bank-B, How would the T- Balance sheet look like for Bank- B
Examine the basis for the trends in consumption patterns, as discussed in any article and explain what has occurred to change the demand for, or the supply of, the products, and market prices of those products.
what is the levelized cost of electricity per kW-hr and Which press should you purchase if 120,000 nondefective units per year are produced by each press and all units can be sold?
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