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Mrs Seigal has two alternative activities to help relieve her backache. In the first, she can visit a physiotherapist. The total time for physioterapist visit, including travel and waiting, is two hours. Mrs Siegal earns a eage of $20 an hour. Physiotherapists charge $50 per visit, and Mrs Seigal does not have any health insurance. As a second alternative, Mrs Siegal can take pain killers. Each pill costs 50 cents, and Mrs Seigal needs to take 30 pills per month. The two treatments are not equally effective. The physiotherapy visits yield 10 additional healthy days per month, while the pills yield 6 healthy days.
a. If Mrs Siegal can only choose one alternative, and if she wants to maximize the most healthy days per dollar that she gets, which option will she choose?
b. If the price of a pill ncreases to $3, which option will she choose?
Assume that a company maximizes its total profits and has a marginal cost. Find the price at which the firm sells the product.
1 suppose that the total liabilities of a depository are checkable deposits equal to 2 billion. it has 1.65 billion in
Ralph wants to buy some milk and a box of cereal. If Ralph buys 4 gallons of milk at $3.00 per gallon, the box of cereal costs $2.00. If he buys 5 gallons of milk, the box of cereal is free. For Ralph, the marginal cost of buying a fifth gallon of mi..
Why might a perfectly competitive firm continue to produce in the short run, even though the market price is less than its average total cost?
The rising stock market implies an increase in wealth, at least as measured on paper. If we assume that some of this increased wealth gets consumed, then the rising stock market fuels an increase in aggregate demand, and may contribute to an inflatio..
Get a copy of the latest Federal Reserve bulletn at your library and find out the most recent data on m1, m2 and m3. How have these aggregates been growing in the past year compared with the values? (Dean Croushore, Money and Banking).
From the perspective of any individual in this population, what is the reduction in the probability of their death in any year from this policy? (Assume everyone in the population uses the road equally. In reality, the fact that this is not true m..
Since she sleeps 9 hours a night, the maximum number of hours she can work a month (taken as 30 days) is 450. She gets pleasure not only from her spending money but also from her leisure hours. Draw her budget constraint in leisure-expenditure spa..
Are natural disasters occurs of inflation or deflation. Where might the public see the evidence.
Soft Selling occurs when a buyer is skeptical of the quality or usefulness of a product or service. For example suppose you're trying to sell a company a new accounting system that will reduce costs by 10%. Instead of asking for a price you offer ..
In a recent speech, the governor of your state announced: "One of the biggest causes of juvenile delinquency in this state is the high unemployment among 16 to 19 year olds. The low wages offered by employers in the state have given fewer teenager..
In the Keynesian, Classical, as well as Solow model, Elucidate the impact of an increase in production technology
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