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1. In terms of market structure, conduct, and/or performance, identify at least three differences one would expect to find between a hospital services market that is highly competitive (closer to perfect competition) versus a hospital services market that is highly concentrated (closer to oligopoly or monopoly).
2. Numerous empirical studies over the years have demonstrated that the physician services market retains significant characteristics of market power, especially in terms of long run profits and the presence of price discrimination among providers. These characteristics persist despite the fact that, structurally, the market appears to have also become more competitive due to a large increase in physician numbers along with the rapid proliferation of substitutes (e.g. PA's, NP's) for physician services. Identify a couple (2) of structural explanations that might help explain such results.
Find the equations of the best response functions of each firm. Determine the values of the Cournot equilibrium.
Suppose now that the monopoly can offer a menu of different quality levels at different prices. Find the profit maximizing menu that the monopoly will offer in each of the two cases considered in part (a) above.
For each of the following pairs of items, draw an indifference curve map and then say if they are perfect substitutes, imperfect substitutes, or perfect complements.
What does MFC
They create money by making new loans and can destroy money by reducing the amount of loans they do. These adjustment in loans impact the banks balance sheet.
Discuss how public officials in local governments can evaluate their ability to match the supply and demand of public goods.
A political discussion group consists of 5 democrats and 6 republicans. four people are selected to attend a conference.
Heckscher Ohlin model with two goods (wheat and cloth) and two inputs (land and labor), suppose price of cloth rises by 10% and the price of wheat remains the same. Wheat is land intensive and cloth is labor intensive. the rise in the price of cl..
Suppose the government were to decide to increase tax rates and cut spending. If the Federal Reserve was feeling rebellious and disagreed with those policy choices, what actions could they take to offset the expected effects? Briefly explain.
Explain the Alchian and Demsetz theory of why firms exist provide real world examples in your answers on how the Alchian and Demsetz
The purpose of including this question is to prove to you that a person can have an absolute advantage in producing some good without necessarily.
You have been asked to produce a forecast for your company's new product (bottled water). List out and briefly describe four factors you would consider before giving the forecast.
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