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1. Why might banning advertising drive up prices?
2. Why have economic analyses of clinical and administrative innovations become more important?
3. What does it mean to have market power? Are firms with market power extremely profitable?
4. Treating a patient with congestive heart failure with tPlex rather than is other increases average life expectancy to 12.3 years from 11.5 years. The added cost of therapy is $14,000. What is the cost per life year?
5. A clinic finds that by eliminating appointments it can reduce costs. The clinic is able to eliminate some telephone staff, and physicians become more productive. Patients wait until the physician is available, so there is virtually no down time. Does this analysis adopt a societal view of costs? Why may this analysis result in a bad managerial decision?
Compute the profit maximizing output produced by each firm. Compute the profits earned by each firm and the cartel.
the government stimulus package implemented during the recession of 2007-09 was needed since built-in stabilizers are
Monopolies are price makers and as such should be able to set price where they will make a profit. Is this statement true? Why or why not?
1. Describe Senator Reid's delivery style 2. What type of presentation is Senator Reid giving Is this the most effective style of presentation for this situation Why or why not
what does the term economizing problem mean for an individual and for society? as part of your answer include the four
Describe the concept of the law of "diminishing returns" and why does it take place only in short run? Differentiate between "the long run return to scale" and "economies of scale."
Explain the relationship between AP and MP. Be sure to use graphs to help support your answer. Calculate the MP and the AP for each worker
you just won the irish lottery you bought a ticket while you were on vacation in ireland and you just won a 1 million
Other things being constant, how will the following influence the hourly earnings of employees? Explain your answer. a. The employee must work the midnight to 8: 00 A.M. shift.
What is the effect on the price of a recordable CD and the quantity of recordable CDs sold if a. The price of an MP3 download rises? b. The price of an iPod falls? c. The supply of CD players increases?
explain how the circular flow diagram relates to the current economic situation. using the circular flow diagram
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