Preventive care is not always cost-effective

Assignment Help Business Economics
Reference no: EM131112342

Preventive care is not always cost-effective. Suppose that it costs $50 per person to administer a screening exam for a particular disease. Also suppose that if the screening exam finds the disease, the early detection given by the exam will avert $500 of costly future treatment.

Reference no: EM131112342

Questions Cloud

The projects are mutually exclusive which project : A city is considering four alternatives for housing development projects. Given an interest rate of 10% per year and the data in the table, determine: 1 2 3 4 FW of first cost, $ 10,000 10,500 18,000 12,000 FW of benefit, $ 20,000 11,000 25,000 26,00..
What is the optimal price and quantity for this firm : A price searching firm faces the following demand and cost function: What is the optimal price and quantity for this firm? To do this, first establish the firm's Marginal Revenue and Marginal Cost curves and then graph them (and the demand curve) on ..
All income in economy is either profit income or wage income : Firm C produces 1,000 pounds of cotton at a cost of 50 cents per pound. They sell all of the cotton to Firm S for 75 cents per pound. Firm S makes 1,000 t-shirts with the cotton for a total cost of $1.50 per t-shirt. They sell all of the shirts to Fi..
Recall the quantity equation-use liquidity preference : Recall the quantity equation, MV = PY. In the Classical framework using the quantity equation, a 5% increase in M causes a 5% increase in P without affecting Y. Bearing in mind the effect of a decrease in interest rates on investment spending and rea..
Preventive care is not always cost-effective : Preventive care is not always cost-effective. Suppose that it costs $50 per person to administer a screening exam for a particular disease. Also suppose that if the screening exam finds the disease, the early detection given by the exam will avert $5..
What is the market price that will be charged : Both Ingrid, Inc. and Sydney, Inc. buy gasoline from the same supplier and can buy all they want at $2.20 per gallon. Assuming that both companies want to maximize their profit and do not violate any collusion laws, how much will each firm sell (i.e...
Individuals to deduct the cost of health insurance premiums : The federal tax code allows businesses but not individuals to deduct the cost of health insurance premiums from their taxable income. Consider a company named HeadBook that could either spend $5,000 on an insurance policy for an employee named Vaness..
True of the european currency unit : Which of the following is true of the European currency unit a) used a medium of exchanging goods and services b) accounting entry between 2 European nations c) it was denominated in the British pound d) primary international reserve asset of most na..
Substitute between labor and capital in producing shoes : Suppose shoe manufacturers can substitute between labor (L) and capital (K) in producing shoes. Further suppose that due to global competition the price of capital equipment used to produce shoes has decreased significantly. Using an isocost-isoquant..

Reviews

Write a Review

Business Economics Questions & Answers

  Based on heckscher online theorem

Based on heckscher online theorem. As a labor abundant country exports the labor intensive good X and imports the capital intensive good y from a capital abundant country.

  Determine your marginal and average tax rates

Suppose in Fiscalville there is no tax on the first $10,000 of income, but a 20 percent tax on earnings between $10,000 and $20,000 and a 30 percent tax on income between $20,000 and $30,000. Any income above $30,000 is taxed at 40 percent. If your i..

  What is the economic depreciation of the combine

A combine used for harvesting corn was purchased new 6 years ago for $400,000 with the intention of using it for its full asset life of 25 years (when its salvage value would be zero). It has a book value of $125,543 and can be sold for $130,000 now...

  The collection of international statistics

Many countries take a major terminology such as ICD and customize it to suit their local needs. Discuss the costs and benefits of this approach from an individual country’s point of view. What could the impact of Localization be on the collection of ..

  Q1 due to the housing bubble many houses are now selling

q1. due to the housing bubble many houses are now selling for much less than their selling price just two or three

  Find the subgame perfect nash equilibrium in this game

Consider a duopoly with differentiated goods in which firms choose prices sequentially. Suppose firm 1 chooses its price p1 first. Then, having observed p1, firm 2 chooses its price, p2. Find the subgame perfect Nash equilibrium (SPE) in this game.

  Demand faced by a monopoly firm

If the table represents the demand faced by a monopoly firm, then what is that firm's marginal revenue as it increases output from 1300 units to 2200 units - Is demand elastic or inelastic in the $6-$8 price range? How do you know?

  Costs associated with the antitrust behavior

Identify some of the costs (pecuniary and non pecuniary) associated with the antitrust behavior (firms having power in the market). Additionally, note the specific antitrust act (Sherman Act, Clayton Act, etc.) under which the violation was investiga..

  Units of a good by using two inputs-capital and labor

Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marginal physical product of the last un..

  Events shifts the short-run aggregate-supply curve

Explain whether each of the following events shifts the short-run aggregate-supply curve, the aggregate-demand curve, both, or neither. For each event that does shift a curve, use a diagram to illustrate the effect on the economy.

  Rivalry is especial destructive to probability

Rivalry is especial destructive to probability if:

  Sale of human organs is legalized and a free market develops

Assume the sale of human organs is legalized and a free market develops. Furthermore, assume the market is in equilibrium. Trace through the price and output effects of the following: An increase in the incomes of potential buyers of human kidneys. A..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd