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Imperfect Competition and Moral Hazard
Contrast prices in a market characterized by oligopoly vs. perfect competition and explain the difference.
Draw the locus of possible insurance contracts in the oligopolistic market and the perfectly competitive market for health care. Draw this in the "Cost per Unit of Insurance" vs "Fullness of Insurance" space.
What happens to cost, coverage, and utility when oligopolies are broken into competitive markets? Illustrate these changes with arrows indicating the amount and direction of change on the same diagram.
In the prior unit, systems planning, you prepared a feasibility study and proposed a broad solution to problems you identified. In the systems analysis phase you will develop a model of your proposed system. This phase applies modeling techniques ..
Two firms are ordered by the federal government to reduce their pollution levels. Firm A’s marginal costs associated with pollution reduction is MC = 150 + 3Q. Firm B’s marginal costs associated with pollution reduction is MC = 9Q. The marginal benef..
To what extent did ethnicity play a role in America’s neutrality from1914-1917? How significant was America’s contribution to the war effort? Elaborate.
Under what circumstances, if any, would you advocate restricting the freedom of the press, and to what degree would you restrict it? Substantiate your answer with logical arguments and/or evidence.
The Chairwoman of the Federal Reserve has announced in her last conference that if the labor market continues to show signs of improvement they will continue with the tapering process and eventually the increase in the benchmark interest rate. How th..
Suppose that the citizens of Hungary can purchase all the oil they desire at the going international price. If the Hungarian government levies a tax on oil, who bears the burden? Illustrate your answer wit h a supply and demand diagram.
Imagine that you are a business owner. Choose whether to hire a new person in the marketing department or upgrade your computer system.
Give an example of a good or service that is “intangible” (not a physical commodity) and is NOT shareable. Explain briefly why it cannot be shared. Give an example of a good or service that is shared in the production of the good or service that you ..
Suppose that diastolic blood pressure readings of adult males have a bell-shaped distribution with a mean of 84 mmHg and a standard deviation of 9 mmHg.
Assuming that the perpetual inventory record is kept in dollars and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO?
How are prices determined under perfect competition? Think about a firm that you have done business with recently. What industry does this firm belong to? For example, McDonald's is a firm in the fast food industry. What market structure would this i..
“Devoting a larger share of national output to investment would help restore rapid productivity growth and rising living standards.” Do you agree with this claim? Explain.
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