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Moral hazard creates tradeoffs that complicate insurance design and policy choices. Imagine a linear demand curve for outpatient clinician visits, and assume at $100 per visit there would be 50,000 annual visits to a particular urban clinic. A politician would like to be popular, and proposes making clinic visits free (zero price). You know, as the city's staff health economist, that if this were to happen, the number of visits would rise to 75,000. Your job is to testify before the city council, and answer at least two questions: how much social welfare loss from moral hazard would occur; and how much tax money must be raised to finance clinic services if visits were made completely free?
A no–load mutual fund had NAV per share of $23.00 on January 1. On December 31 of the same year the fund's NAV was $25.32. Income distributions were $0.85 and the fund had capital gain distributions of $1.65. Without considering taxes and transaction..
If there are only four Ice cream sellers and the price for ice cream increases from 4 to 6.. By how much does the quantity supply increase?
Consider a situation where a monopolist faces the following inverse demand curve p = 240 - 2q and constant marginal costs of MC = 40. Suppose that a regulator imposed a price ceiling on te monopolist of p = MC = 40. What are the equilibrium price, qu..
A firm’s labor demand and labor supply equations are shown below. The equilibrium wage is $? and the equilibrium quantity of labor employed is ? people.
Prejudice - Realistic Conflict Theory: This theory states that limited resources lead to conflict between groups and result in increased prejudice and discrimination. Reading in Chapter 13 about the experiment carried out at the Boys Camp by Muzafer ..
Use the principle of contestable markets theory, inter-industry competition, and foreign competition to provide an economic argument for or against deregulation of an industry.
For this to be a binomial experiment, what assumption needs to be made?
Suppose robotic technology improves the results of abdominal surgery - less time to perform the surgery, faster recovery times, and fewer mistakes. What is the impact on the market for abdominal surgery usin this new technology?
The efficient market hypothesis suggests that allocating your funds in the financial markets on the advice of a financial analyst
it can sell its output for $25 each. Illustrate what is break-Explain how your work both graphically and algebraically.
What is your line balance if peak demand is 450 wires per day? What is the assembly line efficiency for each line balance solution.
Political Instability Abroad Suppose that political instability in other countries makes people fear for the value of their assets in these countries so that they desire to purchase more U.S assets. Refer to Political Instability Abroad. What would h..
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