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A. What is market failure? What are the major reasons that a free, unregulated market in medical care might not be optimal?B. What assumptions of the perfectly competitive marketplace are violated in medical markets? How does each affect equilibrium price and quantity?
What are the factors that affect pay differentials? How does each factor increase or decrease relative wages?
Rent-seeking behavior results in a)increased economic activity by promoting efficiency b)lower economic acitivity by diverting resources to less-productive uses c)a more equitable distributionof income and wealth
Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket?
Distinguish between the terms bundling, multidivisional, matrix and network organizational structures. Why is decentralization a good strategy? What are possible disadvantages of this strategy?
Describe supply and demand as it relates to airport market structure(oligopoly). Describe customers options - given the customers are price sensitive
IKEA is a Swedish home furnishings retailer. An official Indian agency supports IKEA opening 25 stores in India. Demonstrate the impact of IKEA's entry into the Indian home furnishings market.
Do consumers of public goods have the same incentives to reveal their true valuations of Public goods as they do of Private goods? Why or why not?
Assume The Big Enchilada Restaraunt has been offered a 1 year binding lease agreement for $5200/mth on an attractive site. Before the lease is signed, what is the incremental cost per month?
Shares of consumption, investment, and government spending as a part of GDP. Use nominal GDP for these calculations. Biggest contributor in GDP.
Suppose that Auburn begins a new living wage that paid all retail workers in the city $18 per hour, while the going wage in neighboring Roseville for retail workers was $8 per hour . If the odds of getting a job as a retail worker in Auburn are 40..
Does the ability to move first give the employer an advantage? If so, how? As the employee, is there anything you could do to realize a higher payoff?
Assume the demand curve for a monopolist is Qd=500-P, and the marginal revenue function is MR=500-2Q. The firm has a marginal and average total cost of $50per unit.
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