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Suppose the supply curve of medical services is perfectly inelastic. What is the shape of supply curve (e.g. vertical, horizontal, upward sloping)? Please also analyze the impact of an increase in consumer income on the market price and quantity of medical service.
In your opinion, does the Houston Medical Center, in which many hospitals gather, represent an example of perfect competition, monopolistic competition, collusive oligopoly, or competitive oligopoly? Explain your answer in the language of economics.
Explain the economic reasoning underlying the following statement: “People often fail to acquire information about the price they pay for medical services because of health insurance.” How the “imperfect” information about price hurt the health care market? Please cite a reference link (URL) to an article which supports your answer.
You are given the following information. The current dollar pound exchange rate is $2 per pound. A U.S basket that cost $100 would cost $120 in the United Kingdom. What is the current U.S real exchange rate qUS/UK with the United Kingdom? How much is..
A network carrier serves some small cities close to its hub with regional jets which have much higher seat-mile-costs (CASM) than larger mainline jets. The average fare from these cities to the hub does not cover fully allocated costs. Is this ration..
For each of the linear demand function p = -6q + 540 Calculate the price elasticity and write it only as a function of q, Calculate the marginal revenue, Draw demand and marginal revenue together on 1 graph. Show that the expected relationship betwee..
彼得·德鲁克的企业家精神的定义。What are specific aspects of the definition that are important to you? Drucker provided four possible sources of change. What are they? Which one do you think is most important?
Suppose the demand for tablets is given Q = 2000 - 10 P. Where Q is the quantity demanded and P is the price of tablets. Plot the demand curve. What is the inverse demand? What is the slope of the inverse demand? Calculate the elasticity of demand wh..
When the ticket price for a concert at the Arias Magnificas Opera House was $50, the average attendance at concerts at that price was 4012 people per concert. Assuming that demand (the average number n of tickets bought) is a linear function of the a..
Explain how the balance of payments interacts with the supply and demand for the domestic currency in the foreign exchange market to maintain balance.
AD-AS Framework: Assume that the economy is currently in short-run equilibrium but is experiencing an inflationary gap. If you are a Classical economist and believe that the economy is self-regulating, graphically illustrate and explain how the econo..
Suppose you make an annual contribution of $100 each year to a college education fund for a niece. She is 4 years old now, and you will start next year and make the last deposit when she is 18. The fund is a money market account earning 6.5%/year. Wh..
Why has strategic management become so important today's corporations and how does strategic management typically evolve in a corporation?
Gas prices fluctuate often and in both directions. respond to the following: How responsive do you think consumers will be to the price change when these fluctuations occur due to changes in supply? Why? Use the various determinants of elasticity to ..
价格弹性of demand is a measure of how much more (or less) a consumer buys when the price of a product changes. This measurement is critical for managers to understand before deciding to change prices. Name two goods where your cross-pric..
Show the changes in the demand for tourism as income of a tourist grows when tourism is perceived to be, (a)normal good, (b)superior good, and(c) inferior good. Analyse the demand for tourism overtime using intertemporal analysis.
Also the economy has G = $1100, I = $404, and XN = $15. Unemployment in the economy is currently 5.2% and inflation is 0.1%
Two university graduates, Bill and Steve, worked for an advertising agency at an annual salary of $40,000 each for 3 years after they graduated. Then, they decided to quit their jobs and start a partnership that designs and builds Web sites. What is ..
q.consider the following demand as well as schedule for bottles of watercost p quantity demand as well as used by
Evaluate the following statements using graphical analysis. Provide a brief narrative explanation of your graph to support your evaluation. Make sure the axes and curves in your graphs are properly labeled. “When demand for home heating oil increases..
Many professional accountants believe that the main purpose of accounting standards is to protect the public. With that in mind, what do you think are the main objectives of the AICPA code of professional conduct and how does the code relate to prote..
Which of the following is a characteristic of the oligopoly model?
Continuing with the previous question, where Sammie Wall currently has a monopoly on widgets. The inverse demand function for the only customer interested in widgets is still [P=40-6Q] and the cost to produced widgets remains the same at: [C=10+2Q^2]..
What are the three factors that determine the behavior and ultimate value of people in an organization? From a manager’s perspective, which is the most important factor of the three? Give an example, supporting your choice.
A small country that imposes a tariff will observe: Refer to the figure above. The impact of a tariff on shoes on the amount of domestic producer surplus is a __________ measured by area __________. Suppose the "Effective Rate of Protection" for Braz..
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