EXPLORING ECON.-W/ACCESS (LL) >CUSTOM<
7th Edition
ISBN: 9781305757448
Author: Sexton
Publisher: CENGAGE C
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Chapter 8, Problem 8P
To determine
What effects the clinical competency exam have on the number of veterinarians practicing in the United States, and if I think that it improves the quality of veterinary services.
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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.
Suppose there are two types of persons: high-ability and low-ability. A particular diploma costs a high-ability person $8,000 and costs a low-ability person $20,000. Firms wish to use education as a screening device where they intend to pay $25,000 to workers without a diploma and $ K to those with a diploma. In what range must K be to make this an effective screening device?
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?
Chapter 8 Solutions
EXPLORING ECON.-W/ACCESS (LL) >CUSTOM<
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