Briefly discuss the "free rider" concept as applied to health care.

Q: Based on a current event, that you have either learn from direct experience, read on the news, read…

A: Demand and supply are two fundamental concepts in economics that describe the behavior of buyers and…

Q: The firm's break even (zero profit) price and output combination is Price P₁ P₂ Py PA P1, D. P2, C…

A: Break Even Point: For a firm the breakeven point is the point at which it is neither earning profits…

Q: How much does Ireland receive each year and from whom with FDI, what is the money used for or where…

A: Foreign Direct Investment (FDI) has a significant impact on the Irish economy; it is estimated that…

Q: At the threat point, the union has payoff ___ and the firm has payoff ____. At outcome A, the…

A: The above diagram shows - • On Y-axis(Vertical Axis) Starting point (0,4),(0,14) (Approximation) •…

Q: I'm doing economics homework and I'm being asked to find the multiplier when the MPS is 0.12 and MPC…

A: Given  MPS = 0.12 MPC = 0.88

Q: PA PB PC P D Competitive Firm MC ATC Q 8. With "PA," determine if this firm makes a ("positive"…

A: A competitive firm is a firm that operates in a competitive market and has no market power, meaning…

Q: Suppose that the tempeh industry is initially operating in long-run equilibrium at a price level of…

A: In the short run, certain production factors are fixed and some are flexible. Only by reducing the…

Q: Angus Bank holds no excess reserves but complies with the reserve requirement. The required reserves…

A: The empirical evidences show that banking development has a beneficial long-term influence on…

Q: 1. What is the expected value of playing this game ? a. The player repeatedly rolls a six - side d…

A: In economics, expected value refers to the probability-weighted average of all possible values of a…

Q: Consider the combined production possibility frontier for a two good (fish and apples), two-person…

A: A "production possibility frontier" (PPF) is a graphical representation of the various combinations…

Q: Suppose the economy has only three goods and that the base year is 2015. Year Price of Burgers…

A: Nominal GDP refers to the value of goods and services that are produced within the country at…

Q: why dont you connect points on a demand when the price is fixed?

A: Introduction Demand is the amount of a good or service that people are willing and able to buy at a…

Q: Suppose in 2015 the cost of purchasing a basket of goods was $50, That same basket cost $70 in 2016.…

A: CPI is the consumer price index.  Consumer price index helps to calculate the inflation rate.…

Q: Answer the following in essay form:   1. What is the perspective and methodology of economic…

A: The term economic development can be defined as activities or practices that aim at improving the…

Q: Briefly discuss characteristics of the Swiss health care system.

A: Introduction A health system, often referred to as a health care system, is an organisation of…

Q: If sellers expect the price of cars to increase next year, what will happen to the supply curve for…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

Q: .) Another investment story: George inherited P500,000 from his grandparents when he was 5 y nvested…

A: The annual worth or AW is the net of all the profits and expenses incurred over one year. Thus, we…

Q: Relative to the initial equilibrium, identify the price and/or quantity adjustment. What process…

A: Market demand for a commodity can change as a result of a change in consumers income, their tastes…

Q: (a) Explain the difference between M1, M2 & M3 in terms of the definition of money supply.

A: Money supply refers to the total amount of currency in circulation in an economy at a particular…

Q: Describe the role of intergovernmental organizations, and provide examples of the types of…

A: Intergovernmental organizations (IGOs) are entities that are created by two or more sovereign states…

Q: During the summer months, Bruce's Market anticipates that the price of hot dogs will increase by 20%…

A: The elasticity of demand describes how customers' consumption patterns change in response to a…

Q: If aggregate supply is vertical, then which of the following statements must be true?     Aggregate…

A: Aggregate Demand(AD) and Aggregate Supply(AS) A macroeconomic model known as the aggregate…

Q: Assume that a monopolist sells a product with a total cost function: TC=1,200 +0.502. The market…

A: Monopoly: Monopoly refers to such a market situation where a sole seller faces the entire market…

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A: The rate of unemployment will be calculated as number of unemployed divided with the labor force;…

Q: you know that when a firm produces 50 units of output, total costs are $8,000 and average fixed…

A: Variable costs are associated with the level of output produced, it changes with the change in the…

Q: What is the contribution to 2021 U.S. GDP in the following scenario? A car company produces a…

A: Gross Domestic Product(GDP) is the total amount of all goods and services produced within a…

Q: THE GREAT TOILET PAPER SHORTAGE OF 2020 Why was there a shortage of toilet paper in early 2020 at…

A: Shortage refers to a usual situation in which the demand for a good or service exceeds its supply.…

Q: Exercise 2. Describe the difference between allocative efficiency and productive efficiency in the…

A: Efficiency is the ability to use resources in a way that maximizes output while minimizing input. In…

Q: does the market( unregulated and competitive) for cigarettes suffer from a market failure? if…

A: Market failure is a situation in which the allocation of goods and services in a free market is not…

Q: When demand increases, what happens to price and quantity in equilibrium? O Price increases and…

A: An increase in demand means the demand curve shifts upward. (quantity demanded increases at each…

Q: Leila currently buys 6 trips using public transportation with a marginal utility of 2, and 4 trips…

A: Utility basically means the satisfaction.  Utility derived from the consumption of good is maximum…

Q: Use a properly labeled graph to illustrate the relationships between full-employment (or potential…

A: Given - The chart below shows the relationship between output Y at full employment (or the potential…

Q: Comment on whether the following statement is true or false. Explain your reasoning in 1-3…

A: The total amount of a specific product that is made accessible to the market for consumption is…

Q: The figure on the right shows the market for labor in a given industry. The demand curve slopes…

A: Introduction The demand curve shows the quantities of a particular good or service that buyers will…

Q: Suppose Madison operates a handicraft pop-up retail shop that sells rompers. Assume a perfectly…

A: A perfectly competitive firm is a price taker and can sell any quantity of the commodity at the…

Q: In 2010, the GDP in the tiny country of Lindora was $4 million and the price of a market basket of…

A: The gross domestic product (GDP) is the aggregate nominal monetary worth of finished goods and…

Q: Why did labor have little say in old firm operations? Too much capital O Too much demand O Too much…

A: Introduction Capital in economics is an economic input used to produce goods and services. It can…

Q: Draw the demand curve based on the schedule below. DEMAND SCHEDULE: Quantity Demanded (in kilograms)…

A: Demand of a product: The demand for a product signifies the quantity demanded by the buyer at each…

Q: Which of the following are typical federal fund loan denominations? Check all that apply. O $250,000…

A: Introduction  Federal funds, often referred to as fed funds, are excess reserves that commercial…

Q: Compare Job Offers in Two Different Cities Assume you have two job offers, one in Chicago at $50,000…

A: We shall choose the project whose benefit is more than the required benefit based on the present…

Q: Which of the following statements is TRUE?     (a) Change in demand and change in quantity…

A: Introduction In economics, demand refers to consumers' willingness and ability to buy a specific…

Q: What impact do policy interventions have on the supply and demand equilibrium for a product?

A: Demand and Supply Economic theory's core ideas of supply and demand continue to be important factors…

Q: Using the above information and the midpoint method, what's the cross price elasticity between…

A: Cross price elasticity of demand measures the responsiveness of change in demand of one good to…

Q: What is the value for net exports if consumer spending is $21,049, gross private domestic investment…

A: Net exports refer to the value of a country's total exports of goods and services minus its total…

Q: et Services is a manufacture of parts for the commercial aircraft. The company is established in…

A: A cost function [TC(Q)] is a mathematical representation of the relationship between the cost of…

Q: 3.3 In the short run, a firm cannot vary its capital, R=2, but it can vary its labor, L. It produces…

A: The production function is the mathematical relationship between a firm's output and the inputs…

Q: Suppose this price index uses 2020 as the base year. In the last row of the table, calculate and…

A: A price index measures the change in price of basket of goods relative to the base year.  i.e.,…

Q: The additional benefit of producing one more roast beef sandwich at a local deli is $3. The…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Marginal…

Q: What part of the business cycle (expansion, contraction, peak, trough) is the economy likely in…

A: A recessionary gap is an economic phenomenon that happens when a country's real GDP is lower than…

Q: Republika UPLB has 50 workers. It produces only coffee and white cheese. The production of these two…

A: In 2 goods case, the use of inputs is efficient when it is not possible to increase the production…