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Regarding hospital regulation, the models of hospital behavior developed. predict that the effects of DRG payments on hospital behavior will differ across hospitals because that system offers the same price to all hospitals. What types of hospitals will likely have to change their behavior when confronting the DRG system, and what will their changes do to hospital output and quality, if anything? What types of hospitals will likely do nothing?
Suppose the production function is given by y = 4x1 + x2. If the factor prices are $4 for factor 1 and $2 for factor 2, how much will it cost her to produce 70 units of output?
Write down some of the characteristics of perfect competition. Which kinds of industries come closest to perfect competition in the real world?
Assume that the price of silk ties in a perfectly competitive market is $19 and that the typical firm confronts the following costs: Quantity (ties per day) 0 1 2 3 4 5 6 7 8 9 10, Total cost $10 $17 $26 $37 $50 $65 $82 $101 $122 $145 $170
"Oligopolies have a negative impact on income distribution." Do you agree or disagree? Provide justification for our response.
The price elasticity of demand for senior citizens purchasing coffee from McDonald's is -5 while non senior citizens have a price elasticity of demand equal to -1.25.
Estimates of the maximum amounts of output possible with different combinations of two input factors, X and Y.
Briefly list and elaborate on the factors that will be affecting the demand for the following products in the next several years. Do you think these factors will cause the demand to increase or decrease?
The fixed costs at Harley Motors are $1 million annually. The main product has revenue of $8.50 per unit and $4.25 variable cost. Find out the following.
You have been tasked by your boss to forecast what hours of work through your workers would be following a proposed increase. you have had a flexible policy of workers selecting their hours
Discuss and explain the limitations of the United States "supply side" policy in the war on drugs. Can we win the war on drugs? Describe your position on legalization.
Consider the following graph of a monopolistically competitive firm selling DVDs. A. How many DVDs should be sold to rent per day to maximize profit. B. What is the economic profit for this firm operating where economic profit is maximized.
Compute the probability of failing to stop at an intersection, given the driver was on the cell phone.
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