Explain and predict human behavior

Reference no: EM133644009

Questions

1. The study of economics attempts to explain and predict human behavior. "The fact that neurosurgeons have to raise their fees to offset rising malpractice premiums is not necessarily a bad thing. By paying those higher fees, patients are essentially purchasing insurance." Comment on this statement. What does it mean? Do you agree that this "is not necessarily a bad thing?"

2. Many consider supply and demand the two most useful concepts in economics, a New England Journal of Medicine publication shows that higher nurse staff levels are associated with a variety of improved health outcomes. Use this information to make a business case for hiring more nurses.

3. John and Jane both use the statin drug Crestor, which is marketed by AstraZeneca (AZ). Both obtain the drug from the same Walgreens pharmacy. John is enrolled in a small HMO; Jane has no insurance and pays for AZ on her own.

4. Pricing of drugs like Crestor is complicated by a system of warehousing and rebates, but at the end of the day, AZ makes less money from John's prescription than from Jane's prescription. Why is it that a small HMO can secure for John a better deal on Crestor than Walgreens is able to secure for Jane?

5. Offer two distinct reasons why hospital acquisition of physician practices was a flawed economical strategy.

Reference no: EM133644009

Questions Cloud

Long-run equilibrium in monopolistically : Draw a diagram to show the long-run equilibrium in a monopolistically competitive market and explain what you draw.

Marginal rate of technical substitution : explain why and how does the marginal rate of technical substitution, in a convex isoquants, is decreasing in labour and increasing in capital.

Explain the change in price of capital : Explain the change in price of capital (in this case increased rent prices) on the isocost and new optimal input combinations.

How do you think motorcycle riders : How do you think motorcycle riders feel about this proposed change?

Explain and predict human behavior : Explain and predict human behavior. The fact that neurosurgeons have to raise their fees to offset rising malpractice premiums is not necessarily a bad thing.

Illustrate the concept of economies of scale graphically : Illustrate the concept of economies of scale graphically by drawing a LRATC curve and labeling increasing, constant, and decreasing returns to scale.

Market structures influence how price and output decisions : The market structures influence how price and output decisions are made by the firms in their respective structure.

Damages for clients involved in personal injury lawsuits : ?Shaughnessy Consulting, LLC currently enjoys a patent on software that estimates economic damages for clients involved in personal injury lawsuits.

Concepts of substitution and income effects : Using the concepts of substitution and income effects and the appropriate diagrams), describe the difference(s) between an uncompensated demand curve

User Account

All Pages