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Vermont is one of many states that passed Certificate of Need (CON) laws in the 1970s. Many interest groups are in favor of repealing all CON regulations. Assuming perfect markets, describe in one page or less, using graphs where appropriate, the effect of a repeal of Vermont's CON law on:
a. Hospital inpatient market in Vermont
b. Long-term care market in Vermont
Treat part a and b as separate (no effect transferring into the other market)
Explain how would each of these traps impact the production possibilities frontier.
Discuss the opportunity costs of natural disasters. Calculate (in $$$) your opportunity costs of natural disaster.
List the advantages and disadvantages for the United States to protect its catfish industry. List the protective measures (instruments) the United States has not used to protect its catfish industry. Briefly explain why each would or would not be suc..
With the passage of the Affordable Care Act the U.S. government requires that everyone have some form of health insurance. One of the provisions of the law is that firms with more than 50 full-time workers must provide health insurance to those worke..
In a small open economy with a flexible exchange rate, an expansionary fiscal policy will cause which of the following to happen?
Suppose an industry consists of 2 firms that compete by choosing quantities simultaneously in each period t = 1, 2, 3,...... (in other words, the two firms play infinitely repeated Cournot game). Inverse demand in the industry is given by the linear ..
The West Oak Park community decided to build a playground with a fair market value of $350,000. The assessment rate is 40% and the property tax rate is 7.5%. Find the property tax due for 2013.
How many bushels of corn are purchased by consumers and at Illustrate what cost. By government. How much does program cost government. How much income do corn farmers receive.
q.q1. consider two persons ann and bill and two-goodsx and y exchange economy. the total endowment of the economy is
You are currently using three printing presses and five employees to print 100 sales manuals per hour. If the MRTS at the point is 0.5 (capital is on the vertical axis of the isoquant map) the you would be willing to exchange _______ employees for on..
Ace contracted with Jones to do certain remodeling work on the building owned by Jones. Jones supplied the specifications for the work. The contract price was $70,000. After the work was completed, Jones was dissatisfied and had Clay, an expert, comp..
The price of twinkies fell from 0.80 to 0.70.As a result,the quantity demanded of Ho-Ho's decrease from 120 to 100. Illustrate what would be the appropriate elasticity to compute. compute this elasticity.
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