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Healthcare Economics: What would happen to the market place for prescription drugs if you no longer needed a prescription from any type of health care provider? Think of the impact of various consumers and suppliers. Think how demand for services would go up or down.
In cost-benefit analysis, the government should intervene as long as
Why would workers be more likely to accept a real wage cut that arises from increase in CPI than a nominal wage rate? Does inflation influence a workers wage rate?
Identify any externalities associated with initiatives to develop alternative fuels in the United States. How do these externalities affect the market outcome? Is it possible for a government's solution to a market failure to actually worsen the fail..
The account earns 8% interest, compounded every 6 months. What is in the account at the end of 6 years?
If each maintenance check costs $220 and the machine is expected to provide 30,000 hours of service, what is the total savings of scheduling maintenance every 6,000 hours over 3,000 hours?
Fidelity Life Insurance has a document imaging system that needs replacement. A local salesperson quoted a cost of $10, 000 with an estimated salvage of $900 after 5 or more years. If the system is expected to save $1700 per year in clerical time, fi..
Illustrate what is the effect of the price increase on revenue at the YSU campus store. Calculate the price elasticity of demand for Bottom Feeder Tacos using the mid-point formula.
Machine X has an initial cost of dollar 10,000, annual maintenance of dollar 500 per year, and no salvage value at the end of its 4-year useful life. Machine Y costs dollar 20,000. The last year there is no maintenance cost. The second year, maintena..
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1’s elasticity of demand is -2, while group 2’s is -3. Your marginal cost of producing the product is $30. Determine your optim..
Assuming that all buyers received the credit, estimate the own cost elasticity of demand as well as well as own cost elasticity of supply.
According to studies by economists Frank Chaloupka and Michael Grossman, the price elasticity of demand for cigarettes for teenagers is 1.3 and for adults is 0.4 ("Price, Tobacco Control Policies and Smoking Among Young Adults," JHE, Vol. 16, no. 3 (..
According to The Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and cap..
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