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Question: What are the opposing ideas in these two videos? The FEE video described "price signals." What are price signals? In the Vox video, Ezra Klein showed that the United States government spends about as much on health care as nations with fully socialized medicine. Did you know that before watching this video? Does it surprise you? Why/Why not? What were the reasons Ezra Klein gave for publicly insured, privately insured, and uninsured people paying different rates for health care? Ezra Klein described the "master price list" some countries use. What is the master price list? The FEE video used the term "opportunity cost." What is opportunity cost? The FEE video argued that heath care vouchers would be better than a single payer system. What is the difference between the government paying directly for health care and giving consumers vouchers that can be used for health care?
Derive each firm's mark-up of price over marginal cost as a function of the elasticity of demand and the firm's market share.
You are graduating from college at the end of this semester and after reading the The Business of Life box in this? chapter, you have decided to invest ?$4,400 at the end of each year into a Roth IRA for the next 42 years. How much will you have if y..
Suppose that a firm's production function is Q= min{K,L} . Currently, the wage is w= 8 and the cost of capital is r=8. What is the minimum cost method of producing Q=40 units of output? Suppose that wages fall to w=4. Keeping total cost the same, wha..
Many managers do not understand the various ways that interest rates can affect business decisions. Describe two to three macroeconomic factors that influence interest rates in general. Explain the effects of each factor on interest rates.
Suppose you are given a money supply model where r = 0.1, e = 0.2, and c = 0.4. What is the money multiplier? What change in the money supply will result from an open market sale of $400,000?
Government shutdowns not only impact federal employees and the efficiency of the government, but can also affect consumption and GDP.
Consider the following two policies aimed at reducing cigarette smoking in Australia:
In chapter 10 of Faithonomics, Brekke discusses the Scandinavian religious monopolies. What evidence does Brekke cite as evidence of the importance of religious
What happens to the price of coffee and Thomas's income. I would like to know the thinking steps in detail, best regards.
The human resource manager of a major life insurance company has received complaints from the sales managers regarding the qualifications of the sales staff bei
Suppose a firm is making its location decision and acting in the same manner as firms in the Weber Model. The firm takes three inputs and produces a single output. This output costs $5/unit to transport.
Elasticity refers to the change of one variable because of a change in another. Price elasticity of Demand refers to the percentage change in demand of a good based on its percentage change in price. Changes in price and demand will affect total re..
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