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Suppose individuals have different health levels H, where H is distributed uniformly between 0 and 9. The marginal cost of medical care depends on an individual's health H, and is characterized by the function MC=1000+1000*H (notice that a higher value of H corresponds to a sicker person, with higher marginal costs, so the left edge of the graph corresponds to the sickest person with H=9, and the right edge of the graph corresponds to the healthiest person with H=0). Individuals are risk averse, there is a single insurance plan available for purchase (as in the Akerlof model, NOT the R-S model), and individuals have utility functions for this insurance plan that result in a risk premium equal to RP=1000*H.
Are there any economic lessons that a non-monopoly firm can learn from the hypothetical monopolist in the development of its own strategy for building.
q1. assume which perfectly competitive firms producing cashews discover which p exceeds mc. will their combined output
Compute the volatility of a portfolio with 50 % invested in each stock if the correlation between the stocks is ?
Why might demand for nurse labor by hospitals or other organized health providers be monopsonistic? Use economic models to explain your answer.
Briefly explain the purpose of regulation and the concept of ethics. Is it possible for a company to maximize shareholder value and be ethical?
Welfare Economics: main economic goals of a political-economic system are to promote efficiency (static and dynamic), equity, and macroeconomic stability. Under what conditions will a free market meet these goals? Identify a violation of these condit..
Home has 1,200 workers. It can produce two goods, apples(QA) and bananas(QB). The unit labor requirement in apple production is 3, while it is 2 in banana production. draw the PPF for home(with the production of apples on x-axis). what is the opportu..
If the nominal social discount rate is 7% and the rate of inflation is currently stable at 2 percent, should the city build either facility.
Which of the following government actions promotes monopolistic behavior?
A bond that matures in 19 years has a ?$1,000 par value. The annual coupon interest rate is 12 percent and the? market's required yield to maturity on a? comparable-risk bond is 14 percent. What would be the value of this bond if it paid interest? an..
What possibly could account for this discrepancy? Is this an example of GDP not being an accurate measure of welfare?
Noel's Hypothesis from our discussion of contact theory had three distinct features - ethnocentrism, competition and differential power.
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