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The Medicare Payment Advisory Commission recently voted to suggested to Congress to institute a set of pay for performance incentives for providers serving Medicare patients. This would include paying bonuses to providers as incentives to meet or exceed certain quality indicators. As an example, consider the following: Diabetics need to have a certain blood test (hemoglobin A1c) performed either annually or quarterly depending on how well they manage their illness. Let's say that studies show that physicians follow these guidelines for only 60% of their diabetic patients, and the government will make incentive payments to those physicians if 70 percent or more of their diabetic patients are tested appropriately. Incentive payments are not uncommon among other non-Medicare payers, as well as in non-medical markets. When it comes to providing medical care, do you think such an incentive scheme is appropriate or not? Provide your reasons.
Using a separate supply and demand diagram for each part, illustrate the effect of value of the yen in terms of dollars of each of the following;
Apply the substitution and income effects to the purchase of meat given the lower price. How is this related to the law of demand? Hint: use chicken as a substitute good in your discussion.
Recently, there has been a lot of press about high lead content in toys made in China. This negative press can affect the foreign exchange rate in the United States dollar and Chinese yuan.
Demand and supply situations in perfectly competitive market for unskilled labor are as follows, Estimate the industry equilibrium price or output combination both graphically and algebraically.
Ajax, Inc. has appointed you to examine the demand for its line of telecommunications devices in 35 different market areas.
Demand for DVD rentals at a video store is described by the equation: Q= 4,000-500P, where Q denotes the number of DVDs rented per week and P is the rental price in dollars.
Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers.
Summarize the differences between the four market types. Provide a general explanation of how business may maximize profit within each market type.
Distinguish between explicit & implicit costs, giving example of each and what are the explicit & implicit costs of attending college?? Why does the economist classify normal profit as a cost?
Sketch a production possibilities curve (not a straight line), with consumer goods on the horizontal axis and capital goods on the vertical axis.
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
Suppose you manage a United States based firm that makes shoe laces that you sell in a highly competitive market your shoe laces are considered a standardized commodity through your consumers
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