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An individual's demand for physician office visits per year is Q = 10 - (1/25)P, where P is the price of an office visit. The marginal cost of producing an office visit is $100.
a. If individuals pay full price for obtaining medical services, how many office visits will they make per year?
b. If individuals must pay only a $25 copayment for each office visit, how many office visits will they make per year?
c. What is the deadweight loss to society associated with not charging individuals for the full cost of their health care?
a. Graph the demand and supply curve. b. What is the consumer surplus and producer surplus?
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Faraday issued preferred stock with a $4.80 dividend per year. If you buy the stock for $60, what is your return?
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Find the optimal (x, y, λ) for max u(x,y)= kx^ay^b s.t. PxX+PyY = m, in terms of the parameters of the model. Prove that the optimal (x,y, λ) is indeed a maximum. Comment
A poll solicits a large number of college undergraduates for information on the following variables: the name of their cell phone provider
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