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1. Suppose that emergency room services in a city are provided by three hospitals. Two of the hospitals each have a market share of 40% and the third hospital has a market share of 20%. Compute the pre-merger and post-merger HHI for this market if the two largest hospitals merge.
2. The market for physiotherapists is competitive. Chiropractic services and physiotherapy services are substitutes. Currently the price per visit is $40 and the quantity utilized is 30,000 visits annually. Physiotherapists face stiff competition from chiropractors. Currently, chiropractors charge $35 per visit and there are 15,000 visits annually in the region. The chiropractic association has decided to license another 20 practitioners in the region. This will lower the price to $25 per visit. There is no change in the supply of physiotherapists. What will be the direction of the effect of the change in chiropractors on the price and quantity utilized for physiotherapy services?
3. When a generic is introduced in the pharmaceutical industry, the price of the affected brand name drug may, contrary to expectations, increase in the short run before declining a while later. How would you explain this phenomenon?
Assume that the market for wheat is perfect competitive, with demand curve P = 5000 - 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by T C = 1+Q+Q2 which results in marginal cost of MC = 1 + 2Q.
Discuss the factors that accounted for the rapid growth. Do you think the mode of governance (political institution) in China is good for sustained Development?
the total cost curve of a representative firm in a perfectly competitive market is given by tc18x3-1.5x211.5x where x
Briefly explain whether you agree with the following statement: "If at the current quantity marginal benefit is greater than marginal cost, there will be a deadweight loss in the market.
A New Hampshire resort offers year-round activities: in winter, skiing and other activities to be cold; and in summer, golf, tennis and hiking. The costs of running resort are essentially the same in winter and summer.
In the last month, the price of gasoline increased by 20 percent. Your job is to determine what caused the increase in price: a change in demand or a change in supply. Ms. Info has all the numbers associated with the gasoline market.
Assume that the government imposes a price floor of $16 in the tablet case market. Explian What would happen in this market?
given the products below and the events that affect them indicate what happens to demand andor supply and the
select two countries that are currently in the news and briefly explain the situation between them.describe how the
The article from economics and it is deals with the price elasticity of demand and supply in the airline industry. Due to very high fixed costs, it is very difficult for a corporation to enter and exit the airline industry.
Provide reasons for believing in the accuracy or inaccuracy of sensory information and discuss the roles of "nature" and "nurture" with regard to the interpretation and evaluation of sensory data.
assume that country a has a population of 500000 and only produces one good-cars. country a produces 100000 cars per
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