People need medications, but the poor often cannot afford them. Governments may not provide subsidies for health care and medications. Meanwhile, biopharmaceutical firms focus their R&D on compounds likely to provide the best returns. What is the proper role of the following groups in addressing these dilemmas: national governments, branded biopharmaceutical firms, and generic manufacturers?
Q: 8. The imposition of a tariff on imports by a small nation leads to a. An outward (towards the axis…
A: Since you have asked multiple questions, we will solve first question for you. In case you want any…
Q: Explain the concepts of consumers' surplus and producers' surplus. Why in a competitive market…
A: Explain the concepts of consumers' surplus and producers' surplus. Why in a competitive market…
Q: MULTIPLE CHOICE. Choose the letter of the best answer. Write the chosen letter on the space provided…
A: 1. The letter M in MOOC stands for,
Q: Briefly explain price rigidity in oligopolistic markets using the kinked demand curve.
A: Oligopoly is the form of market structure where few large firms exist and sell differential products…
Q: Q2: A company plans to update its equipment so that its trucks are replaced after ten years from…
A: Compound interest, also known as Interest on Interest, is interest that is added to the interest…
Q: What is insurance 6. Explain threx principles of insurance
A: Individuals benefit from insurance plans because they safeguard themselves, their families, and…
Q: Which of the following statements about the Law of Supply is most accurate? Question 14 options:…
A: Supply refers to the quantity of the commodity which the producers supply at various prices in the…
Q: According to the efficient market hypothesis, stock prices represent a. overall GDP. b. price level.…
A: According to the efficient market hypothesis (EMH), it is impossible to predict the change in the…
Q: Briefly answer. 17. What is Immiserizing growth seldom experienced in the real world? Growth? Why is…
A: 17. Immiserizing growth is a long-term phenomena in which a country's gain in social welfare as a…
Q: e that a country is endowed with 5 units of oil reserve. There is no oil substitute available. How…
A: P = 11-0.46q MC=$ 4 Discount rate= 3%
Q: Solve the Engineering Economics Problem: Project Feasibility Indicator Using Annual Worth Analysis,…
A: Method A First Cost: -Php250,000 Annual Cost: -Php 90,000 Salvage Value: Php 30,000 Life: 3years…
Q: Machine A was purchased last year for $20,000 and had an estimated market value of $2000 at the end…
A: Given:- Two machines A and B purchased Machine A cost=$20,000Machine B cost=$14,000Salvage Machine…
Q: QUESTION 2 Assume that a country is endowed with 30 units of oil reserve. (a) the marginal…
A: The marginal cost is the additional cost that is generated by selling given units of a commodity.…
Q: The car manufacturer Setla negotiates with battery producer Volt over buying a larg number of…
A: There are two scenarios for both firms in the above question - For Volt - To invest in new machines…
Q: Use the graph to answer the question that follows. Assume that the market shown is perfectly…
A: Externalities are the spillover effect of an economic activities of a person which have an impact on…
Q: Expansionary monetary policy and contractionary fiscal policy has a combined effect which is…
A: "In macro-economics, the monetary policy is the actions taken by the central bank of an economy to…
Q: Suppose that national income has fallen from its natural level (Y.) to a lower level at which there…
A: Cyclical unemployment is the portion of overall unemployment that arises directly from economic ups…
Q: If the marginal propensity to consume (MPC) is 0.90, a $100 increase in taxes imposed by the…
A: MPC is the proportion of change in income spent on consumption
Q: S left a skillet of hot oil on the stove, which torched the kitchen cabinets. In insurance, the fire…
A: Insurance is a contract in which a person or an entity receives financial protection or compensation…
Q: A project has the following cash flows. Determine the exact ROR for this project. Item Cash…
A: Given, A project has the following data:First Cost : $250,000Annual Revenue : $16,000Life : 20…
Q: 5. Decision reversal during sensitivity analysis A requires only a single parameter to be modified.…
A: Answer is given below
Q: What were the two branches of the women’s movement of the late 1960s and how do they differ?
A: The women's rights movement is predominantly based in the United States, which advocated equal…
Q: CHOICES: a. Both statements are TRUE b. 1st statement is TRUE, 2nd is FALSE c. Both statements are…
A: The agriculture sector is considered as the driver of economic growth in most of the developed and…
Q: If all firms in an oligopolistic market have similar pricing decisions (all charging high prices or…
A: Oligopoly firm: It refers to the firms that are unable to take charge of the price if they play…
Q: 2. A production function is given by the equation Q = 100L04K0.6 Where L is the number of labour…
A: Given; Production function; Q=100L0.4K0.6 where; L= Quantity of labor units. K= Quantity of capital…
Q: iseconomies of scale? What does this have to do w f scale? What does this have to do with the…
A: Gradually in simple words we can say that the economies of scale are usually known to be as cost…
Q: CHOICES: a. Both statements are TRUE b. 1st statement is TRUE, 2nd is FALSE c. Both statements are…
A: Income inequality:- Income disparity refers to how income are allocated unequally across a society.…
Q: Suppose that a small country has a production possibility frontier (with two goods X and Y)…
A: When resources are limited, the production possibility frontier is a graph that depicts the numerous…
Q: Determine the number of souvenir coins that must be sold per year to justify the purchase of a $6000…
A: The break-even point is the place where absolute cost and all out revenue are equivalent, importance…
Q: Being aware of the Federal Reserve's monetary policy and how it can affect interest rates can impact…
A: The answer is - inflation, more
Q: Consider a strictly concave and continuously differentiable utility function U(T1, T2) describing…
A:
Q: If demand is represented as Qd = 20-3P and supply is represented as Qs = 4 + 5P, the equilibrium…
A: Accordingly the equilibrium price is known to be as the given level of the market clearing price…
Q: What kinds of opportunities affect the efficacy of social movements?
A: Answer is given below
Q: B. SHORT-RUN PRODUCTION FUNCTION WITH Y=2 Units of Variable Average Total Product Marginal Product…
A: Formula to calculate AP and MP:- Average product:- AP=TPQ Marginal…
Q: 1. There are two mobile phone firms operating in a market; FF (Firm 1) and Wodaphone (Firm 2). The…
A: Disclaimer: First three subparts are answered below.
Q: Consider the case of the following large country (all prices are measured in euros, and quantities…
A: The concept that depicts the exchange of goods and services among countries through exchanging money…
Q: The graph on the right shows a domand curve labeled D Use the line drawing tool to draw the new…
A: Note - Since all the parts are already filled so I am answering from the 3rd point.
Q: If beer and marijuana had been found to be substitutes, what would a tax placed on beer do?…
A: Two goods are substitutes when only one of them is consumed
Q: QUESTION ONE (a) The table below shows the average monthly salary in Kenya Shillings and the…
A: Hi! Thank you for the question. As per the honor code, We’ll answer the first question since the…
Q: A manufacturer is planning to sell a total of 500 machines to both foreign and domestic firms. The…
A: Total Revenue is the addition of all the prices received for the total goods sold. It is used to…
Q: Look for the definition of the following terms: 1. perfect competition 2. product homogeneity 3.…
A: All the definitions are given below
Q: What is a characteristic of pure command economies? A The government controls major industries. B…
A: There are majorly four types of economic systems. 1. Pure Command economy 2. Market economy 3.…
Q: Refer to Figure 3 below: Profit can always be increased by increasing the level of output by one…
A: Answer: If the output is below the equilibrium output then profit can be increased by increasing the…
Q: Why it is important to investigate the relationship between migration and income inequality?…
A: Income difference (determined by the number of money individuals are paid) and wealth inequality are…
Q: O'Reilly and CB Solutions. Heather O'Reilly, the treasurer of CB Solutions, believes interest rates…
A: At the point when two gatherings, one paying a proper loan cost and another paying a variable loan…
Q: On a downward-sloping linear demand curve, where would total revenue be at a maximum? Question 24…
A: When talking about the linear demand curves it can be said that it is the straight line demand curve…
Q: Explain, who is helped and who is hurt by a minimum wage? Justify your reasoning.
A: The term "minimum wage" basically refers to the least amount of money that an employer is required…
Q: Consider the Production Possibility Frontiers of two countries, Australia and Brazil. Assume both…
A:
Q: hat is unemployment? How to measure unemployment?How can the adult population be classified? What…
A: Unemployment occurs when a person who is actively seeking employment is unable to find work.…
Q: When and why is it appropriate to have a congressional "supermajority" vote?
A: A supermajority is a revision to a company's corporate charter that requires a greater than usual…
People need medications, but the poor often cannot afford them. Governments may not provide subsidies for health care and medications. Meanwhile, biopharmaceutical firms focus their R&D on compounds likely to provide the best returns. What is the proper role of the following groups in addressing these dilemmas: national governments, branded biopharmaceutical firms, and generic manufacturers?
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Imperfect competition and moral hazard. Some economists have argued that moral hazard and monopolistic health care markets are two socially inefficient problems that partially cancel each other out. Relative to the optimal level of health care Q∗, how much health care is provided in the presence of moral hazard? Assume perfectly competitive health care markets. Relative to the optimal level of health care Q∗, how much health care is provided in the presence of monopolistic health care markets? Assume no moral hazard. Write a one-sentence defense of the argument that moral hazard and imperfectly competitive health care markets could combine to provide a good level of health care provision Q.Discuss the probable consequences of government regulation and market competition on the operation and performance of the health care industry. Question - Which of the following is not a basic question that must be answered as a result of scarcity? a. Who should decide the amount of money spent on medical goods and services?* b. Who should receive the medical goods and services that are produced? c. What mix of nonmedical and medical goods and services should be produced in the macroeconomy? d. What specific health care resources should be used to produce the chosen medical goods and services? e. What mix of medical goods and services should be produced in the health economy?Multiple 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…
- 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 drugsSupposing we grant the superiority of free market economic over other economic theories, do you think that ethical egoism ultimately justifies this economic theory? Or does some other ethical theory better justify it? Justify your answer with reasons,.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?
- The opioid addiction crisis and its sequelae represent one of the worst problems to surface in the US in many years, with tens of thousands dying and billions of dollars in estimated costs each year across many domains, from employment to health care to criminal justice and beyond. Some say the problem is so large and growing so fast, we need a multi-disciplinary “all hands on deck” approach to addressing it, with the oft-suggested remedies centered around treatment and prevention. Though economics cannot cure addiction or save the life of someone who has recently overdosed on some substance or other, which of the following can and should health economists do to help? a. Evaluate the costs of doing nothing, i.e., the status quo, to show policy makers the scale of the resources we are implicitly devoting to unsuccessful strategy today, and thus to justify re-directing resources to more effective purposes b. Evaluate the cost-effectiveness of alternative treatment modalities…The Centers for Disease Control and Prevention (CDC) has a new vaccine against a disease and are trying to determine the optimal percentage of the population that should be vaccinated. They do not recommend vaccinating the whole population against the smallpox virus because the vaccine has undesirable, and sometimes fatal, side effects. Suppose the following table gives the data about the effects of the vaccine. Percent of population Deaths Due to Deaths due to Marginal Marginal Cost vaccinated Disease vaccine side Benefit of the of the Vaccine effects Vaccine (extra (extra deaths lives saved by due to side vaccine) effects) 0% 200 0 NA NA 10% 180 10 20% 160 25 30% 140 55 40% 120 95 50% 100 140 60% 80 200 a. Calculate the Marginal Benefit (in terms of how many extra lives are saved by the…Describe the traditional and interactive communications models of attitude change. Within these contexts, what are the mass-communications and uses-andgratifications theories? Further, discuss the Elaboration Likelihood Model and its implications for marketers.
- Due to an increased number of patients seeking COVID-19 tests and counseling, the clinic and the counseling centre at the leading public hospital was converted to provide both health screening services and counseling services. Using all of its staff, the clinic can screen a maximum of 10 clients or it can counsel 6 clients. Using all of its staff, the counseling centre can screen a maximum of 6 clients or counsel 12 clients. Who has the absolute advantage in health screening? Who has the absolute advantage in counseling services? Who has a comparative advantage in health screening? Who has a comparative advantage in counseling services? What is the opportunity cost of counseling services?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?Consider the case of innovating vaccines without patents (in a perfectly competitive market) (a) Does an externality exist? If so, is it positive/negative (or both) (b) Use Coase’s framework to identify the cause of the externality (c) If an externality exists, determine whether the Coase theorem applies (i.e. is it feasible to assign property rights and solve the problem?) (d) If an externality exists and the Coase theorem does not apply, discuss a government/institutional solution that can mitigate the problem of externality