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Health Economics question:
The average total cost of operating a surgical room is $700 per case if the volume is 100 cases, and $690 per case if the volume is 110 cases. What is total cost at each of these two volumes? What is the marginal cost of another case within this range?
The following are key characteristics of the Optimal Consumer's Allocation, as presented in class, EXCEPT:
A robot has just been installed at a cost of $81,000. It will have no salvage value at the end of its useful life
What is your advise for him?government bond now as it is considered a safe investment
What are some of the challenges they are going to face when they are lowering their costs?
Is this analysis consistent with the proposition which money has real effects in the short run but is neutral in the long run.
What contributed to the downfall of the Soviet Union as a centrally planned economy?
Explain factors that weaken the case for the public sector action such as: the special interest, the shortsightness effect, rent seeking, and weak incentives for operational efficiency.
1. How is economics a science? 2. Why do economists make assumptions? 3. Should an economic model describe reality exactly?
In a six-firm market, if all firms charge the monopoly price, the profit equals $120,000. In that same six-firm market, if all firms instead charge the prevailing price, the profit is $60,000. If the pricing period is one-month long, what is the maxi..
What do the problems with the measurement of the Gross Domestic Product (GDP), Consumer Price Index (CPI) and unemployment rate statistics mean about the actual state of the economy as compared to what the statistics indicate. Is the country really d..
The production function is Q = L^0.25*K^0.25 and the respective unit input prices for L and K are w=4 and r=9. Derive the long-run least cost as a function of Q, and derive the marginal cost and average cost to characterize the shape of the total ..
Explain how globalization in pharmaceuticals occurred with respect to both distribution of medicines in new markets as well as shifting of research and development as well as the manufacturing to lower cost markets.
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