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? 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 Ob. Evaluate the cost-effectiveness of alternative treatment modalities to determine which ones dominate others, i.e., have the greatest ICER Oc. Explain externalities to all who will listen so law enforcement, hospitals, and schools all understand their self-interest in working together Od. All of the above e. None of the above

Pharmed Caplets is an antibiotic product with monthly revenues and Pharmed Caplets is an antibiotic product with monthly revenues and costs of:TR = $900Q – $0.1Q2 ………… TC = $36,000 + $200Q + $0.4Q2MR = ∂TR/∂Q = $900 – $0.2Q ……. MC = ∂TC/∂Q = $200 + $0.8QA. Set up a spreadsheet for output (Q), price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC), average cost (AC), total profit (π), and marginal profit (Mπ). Establish a range for Q from 0 to 1,000 in increments of 100 (i.e., 0, 100, 200, …, 1,000).B. Using the spreadsheet to, create a graph with MR, MC, and AC as dependent variables and units of output (Q) as the independent variable. At what price/output combination is total profit maximized? Why? At what price/output combination is average cost minimized? Why?C. Determine these profit-maximizing and average-cost minimizing price/output…

Discuss and define the five (5) concerns that have most strongly influenced the development of problem-oriented policing and, by implication, community policing are?

For questions 44 and 45 consider the following: The town of Fenerbahce has hired world-class econometricians to investigate their criminal justice system. The researchers report an interesting finding. People who were previously detected and punished by law enforcers gain a better understanding of the functioning of the law enforcement system, and are better able to exploit laws designed to protect defendants against the state. Thus, people who have been detected and punished before are better able to avoid detection and punishment. In particular, they report the following facts: The offense of jay-walking causes social harm of $100. A person who has never been punished for jaywalking before faces a 0.5 probability of being detected while jaywalking. A person who has been punished before for jaywalking faces a probability of 0.25 of being detected while jaywalking. The town wants to implement optimal punishment schemes. It is well known that everyone in Fenerbahce is risk-neutral and…

The Australian health sector suffers from informational asymmetry problems pertaining to ‘moral hazard’ and ‘adverse selection’. Please provide a reason for why you either agree or disagree with the statement.

Suppose there are two types of dentists:  good and bad. Good dentists went to accredited dental schools, generally know what they’re doing, and provide good dental care. Bad dentists are fakes. They never went to dental school, so they provide shoddy treatment. In fact, most patients actually develop cavities about a month after a visit to a bad dentist. Suppose that a good dentist cannot charge less than $100 per visit without losing money. On the other hand, a bad dentist could charge $50 per visit without losing money. The problem is that it’s impossible for patients to tell good from bad dentists before they visit. However, due to news reports, consumers think that about 60% of all dentists are “bad” dentists. A consumer is willing to pay a good dentist $150 per visit, and is willing to pay $0 to visit a bad dentist. What is the most likely percentage of patients that good dentists will treat?     A. 0%   B. 60%   C. 90%   D. 75%   E. 100%