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During the first year of COVID-19, there weren't enough high-quality masks to protect health care workers. Without help at the federal level, hospitals that could hoarded masks, while other hospitals competed against each other to buy what was available. This drove the prices of masks much higher and hurt the budgets of hospitals, states, insurance companies and individuals across the U.S. What policy-making challenge does this event best illustrate?
Tragedy of the commons Benefits vs. harms Balance of interests
Benefits vs. harms Federalism
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businesses large and small now compete in a truly global economy. to be successful in another country it is essential
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A lender made the following statement to a borrower: “You are borrowing $1,000, which is to be repaid in twelve monthly installments of $100 each. Your total interest charge is $200
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The price of good 1 (nuts) is $2 and the price of good 2 (berries) is $1. How many units of nuts will Anthony demand?
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Discuss the long run implications of monopolistic competition with respect to (a) utilization of plant, (b) allocation of resources, and (c) advertising and product differentiation. Compare this to the situation of perfect competition.
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