Discuss Factor Intensity In detail.

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Ann works for an organization that contracts with the state for services provided in an inpatient facility for adolescents with behavioral issues. Ann refers adolescents who do not live in her county to services in the county in which they reside. In addition to her regular case notes, Ann has to write a report that includes the activities she carried out with each client. This scenario addresses some of the reasons why social welfare policy is important to social work practice. Select the statement that best reflects this importance.   Social policy specifies rules and regulations for social programs   Social policy is written by social workers   Social policy determines where each social worker will be employed     All of the above   None of the above

Problem 2. Congratulations! Upon graduating you accept a well-deserved job with XER Consulting. Your first job involves a consulting gig with a state subcommittee on health care issues. The Senate health care subcommittee is considering the expansion of two existing public health programs. One program concerns additional funding for nursing homes around the state. The other program involves additional funding for community health centers around the state. In both cases the funding is supposed to be used to attract more nurses for expansion purposes. Your job involves the following four tasks:

e(p, u) = up1αp2βp3γ   Find the indirect utility function Find the Walrasian demand function Verify Roy's identity Recover consumer's direct utility function

Rosa received a corgi pillow as a raffle prize; she would have been willing to pay $18 to buy it herself. Based on the endowment effect, we would expect Rosa to be willing to sell the pillow.

Explain the components that constitute aconceptual model of consumer behavior.

Question 3: What is the advantage of assuming homothetic preferences? Discuss.

Medicare recipients can purchase supplemental private insurance (known as Medigap insurance) to fill the gap in coverage left by Medicare. This gap includes copayments, deductibles, and prescription drug expenses not covered by Medicare. Several years ago, the government enacted regulations that specify minimum standards for items that Medigap policies must cover. This made the policies more expensive, and as a consequence, about 25 percent of the elderly who would have purchased some Medi-gap insurance purchased none at all [Finkelstein, 2004]. Consider an individual who consumes two goods, "insurance" and "all other goods." The cost of a unit of Medigap insurance is $1, as is the cost of a unit of all other goods. Sketch a budget constraint and set of indifference curves that are consistent with the following scenario: In an unregulated market, an individual with a $30,000 income purchases $5,000 worth of Medigap insurance. The government then puts mandates on Medigap policies that…

Prior to 2003, the city of Boston was often one big parking lot. Traffic jams were common, and it could take hours to travel a couple of miles. Each additional commuter contributed to the congestion, which can be measured by the total number of cars on Boston roads. Although each commuter suffered by spending valuable time in traffic, none of them paid for the inconvenience they caused others. The total cost of travel includes opportunity cost of time spent in traffic and any fees levied by the Boston authorities. Draw a graph illustrating the overuse of Boston roads, assuming there is no fee to enter London in a vehicle and that roads are a common resource. Put the cost of travel on the vertical axis and the quantity of cars on the horizontal axis. Draw a typical demand, private cost and social cost curve and label the market equilibrium. In February 2003, the city of Boston began charging a $5 congestion fee on all vehicles travelling in central Boston. Illustrate the effects of…