Is there any veracity on the benefits of privatization for the government and the people? If so, cite examples of successful privatizations in the Philippines as well in other countries in which there is significant success in privatization
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Is there any veracity on the benefits of privatization for the government and the people? If so, cite examples of
successful privatizations in the Philippines as well in other countries in which there is significant success in privatization.
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- A number of professional associations, such as the American Medical Association and the American Bar Association, support regulations that make it more costly for their members (for example, doctors and lawyers) to practice their services. While some of these regulations may stem from a genuine desire for higher-quality medical and legal services, self-interest may also play a role. Explain.Frustration over US pharmaceutical pricing has led researchers to develop frameworks for evaluation that can be used by any purchaser or patient making complex drug choices. One of the most prominent, the Institute for Clinical and Economic Review, uses clinical trial data and compares value -- per quality adjusted life year (QALY) -- under actual market pricing and other possible references prices for specific drugs. Do you think $/QALY is an appropriate metric for evaluating the value of new drugs?Politicians who support the green movement often argue that it is profitable for firms to pursue a strategy that is “environmentally friendly” (for example, by building factories that do not pollute and are not noisy) because workers will be willing to work in environmentally friendly factories at a lower wage rate. Evaluate the validity of this claim.
- Give at least five examples of hemogeneous products and their substituteThe Chief Medical Officer has advised the government that consumption of widget-corn improves the survival rate of COVID-19 by 20%. Suppose the supply and demand functions for widget-corn are: QD = 100 – 5P QS = 5P. P is the price in dollar and Q is the quantity in kilograms. Having confirmed the positive impact of widget-corn consumption on COVID-19 patients, the government has ordered widget-corn sellers to charge $5 per kilogram. Calculate the impact of the policy on the quantity of widget-corn supplied and demanded. Explain the impact of the policy consumer surplus, producer surplus, and total economic surplus. Is the outcome of the government’s policy efficient and, therefore, maintained or abandoned? Explain in detail.After having been informed that some massage parlors are being used as fronts for prostitution, the Sangguniang Panlungsod passed an ordinance subjecting the massage parlors to such high amount of taxes that leave them no alternative but to stop operating. Is the ordinance valid?
- During a nationwide program to immunize the population against a new strain of the flu, public health officials determined that the cost of inoculating x% of the susceptible populationwould be approximately C(x) = 1.85x/100-x million dollars. (iii) Suppose 17 million dollars are available for providing immunization. What percentage of the susceptible population will not receive immunization?(iv) If money was not a problem will they be able to providing immunization to the entire susceptible population?PLEASE ANSWER JUST D & E List the costs and benefits of the following hypothetical policies: A. The US government offers a $5 billion prize to the first drug company that develops a cure for Alzheimer's disease. B. The patent length for drugs to treat fatal diseases is reduced to five years and all current patents for such drugs that are already in more than five years old instantly expire. C. The European Medicines Agency announces that it will instantly approve new drug applications that have shown any promise in treating Creutzfeld-Jakob disease (also known as mad cow disease), even if there are safety concerns or if the evidence of efficacy is not conclusive. D. The US government allows patients to write themselves prescriptions on weekends, when physicians are typically not available. E. The US government mandates lower out-of-pocket costs on brand-name drugsMultiple choice 14. Mark is a Canadian lumberjack whose income increases from $1,200 per week to $1,500 per week. If his demand for restaurant meals rises from 2 to 4 per week then...Select one: a.Ey = 3 b.Ey = 0.5 c.Ey = 2.5 d.Ey = -1 15. Which of the following would help support the argument for legalizing drugs?Select one: a.None of the other choices b.The demand curve for illegal drugs in relatively elastic c.The demand curve for illegal drugs is relatively inelastic d.The demand curve for illegal drugs is perfectly elastic 16. The Philippines Government is thinking of increasing taxes on gasoline and cigarettes in order to raise tax revenue. This would...Select one: a.None of the above are correct b.Be a good idea if gasoline and cigarettes are inelastic goods c.Be a poor idea because people would stop consuming these goods d.Be a good idea if gasoline and cigarettes are elastic goods 17. If Exy > 0 then goods x and y areSelect one: a.Substitutes b.Normal goods c.Inferior goods…
- When Rosenthal writes about how future payments for health care services depend on current charges and the incentive is for doctors to perpetually increase rates, what economic rule of the dysfunctional medical market is she referring to?The Orphan Drug Act of 1983 provides tax incentives, patent protection, and research subsidies to firms for drugs, vaccines, and diagnostic agents if they are intended to treat a disease that affects less than 200,000 citizens. Explain how the Orphan Drug Act would affect drug development. Can you think of any tradeoffs from the act?During a nationwide program to immunize the population against a new strain of the flu, public health officials determined that the cost of inoculating x% of the susceptible population would be approximately C(x)=1.85x 100−xmillion dollars. Suppose 17 million dollars are available for providing immunization.What percentage of the susceptible population will not receive immunization? (iv) If money was not a problem will they be able to providing immunization to the entire susceptible population?