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- /Suppose that an individual's demand curve for doc-tor visits per year is given by the equation P = 100- 25Q, where Q is the number of doctor visits peryear and P is the price per visit. Suppose also thatthe marginal cost of each doctor visit is $50.a. How many visits per year would be efficient?What is the total cost of the efficient numberof visits?b. Suppose that the individual obtains insur-ance. There is no deductible, and the coin-surance rate is 50 percent. How many visitsto the doctor will occur now? What are theindividual's out-of-pocket costs? How muchdoes the insurance company pay for this individual's doctors' visits?c. What is the deadweight loss (if any) causedby this insurance policy?If surgeons really have the ability to increase thedemand for surgeries, which kinds of surgerieswill be most affected? Can you think of a way todetermine which surgeries are unnecessary? Provide several examples from your own readings orexperience.LIVING IN SPAINJackie moved to Spain to work for a public relations firm. She had health insurance from herprevious employer, but she was surprised to learn that her new employer in Spain did notoffer healthcare coverage. When she asked about this, she was told that more than 90percent of Spaniards use the public healthcare system, which was mostly free. However,her new employer did provide supplementary private health insurance that would allow herto receive quicker care from a private hospital if she desired.Jackie learned that she would be paying 4.7 percent of her salary and her employerwould pay 23.6 percent of her salary to the government for health insurance. She was given a Tarjeta Sanitaria Individual health card to prove that she had health insurance. With this,she could get free care at public hospitals and doctors’ offices. However, before seeing adoctor, she would need to register with a local primary care physician and decide whethershe would use public or private…
- Q3: Leads ship Lhcaning faul direchina) paacess at givibg, puspose to cellective is a tfend y we concephite Looking et this defination can as intra adicisual an goup 0rghized pooces?A consumer’s demand for a medical service is as follows: Q = 100 – P, where P is theout-of-pocket price she actually faces. Assume this medical service has a market price of $70.This consumer is considering four different insurance options: no insurance, full insurance, a 50% coinsurance plan, and a copayment plan with a $25 co-pay Calculate the deadweight loss under each insurance scheme and show iton each graph. What do you observe?Rаnϲhеrs ϲаn rаisе еithеr ϲаttlе or shеер on thеir lаnd. What would cause ϲаusе thе suррly of shеер to inscrease? Typed answer please. I ll rate.
- Why is there asymmetric information in the labor market? What signals can an employer look for that might indicate file traits they are seeking in a new employee?In this time of pandemic, the demand of some products increased rapidly. Give examples ofthese products where the demand increased. Did the supply correspond with the increasingdemand of these products? What solutions were made to satisfy the increasing demand of theseproducts?In Autarka 2 amusement parks, Alfonso's wonderland and Bernice's rides there are 9600 people who like to visit an amusement park. Each of theseconsumers wants to visit one park once. The consumers' homes are evenly spaced acrossthe island, and they each suffer a disutility of $24 for each kilometre they travel to reachan amusement park. With their current technology, it costs an amusement park $12 for each customer theyhost. At present, the equilibrium price for an amusement park ticket is $36, and each firmhas a profit of $115,200. This market is best modelled as Hotelling competition. Fixed costs should be neglected. Treat this market as a one-shot game. Do not consider repetition or associated phenomena such as collusion or predatory pricing. Assuming Bernice's rides has a profit function of Nb(Pa,Pb) = 200(PaPb - Pb^2 + 36Pb -12Pa - 288), what is Bernice's rides best response function?
- In Autarka 2 amusement parks, Alfonso's wonderland and Bernice's rides there are 9600 people who like to visit an amusement park. Each of theseconsumers wants to visit one park once. The consumers' homes are evenly spaced acrossthe island, and they each suffer a disutility of $24 for each kilometre they travel to reachan amusement park. With their current technology, it costs an amusement park $12 for each customer theyhost. At present, the equilibrium price for an amusement park ticket is $36, and each firmhas a profit of $115,200. This market is best modelled as Hotelling competition. Fixed costs should be neglected. Treat this market as a one-shot game. Do not consider repetition or associated phenomena such as collusion or predatory pricing. Find the profit function for Alfonso's Wonderland for the case in which their marginal cost is $6.According to a US Census Bureau survey in 2014 Muple Choice O ● O 25.03 63 55 55.35 percent of unauthorized immigrant households used at least one form of welfare, as compared to percent of a migrant households households with a cThe goal of health insurance is to O spread financial risk over a large group of people O equally distribute the probabifity of loss over a large number of people collect sufficient premiums to cover all possible losses O equalize the availability of medical care across population groups O redistribute income from the sick to the healthy