1. The state of California recently considered passing a tax on the services of doctors in that state in order to raise revenue to pay for universal health coverage for California residents. Suppose the average open heart surgery costs $100‚000‚ and at that price 23‚339 surgeries are performed each year. Fully explain what the most likely outcome would be in this market if a tax on surgeries is implemented. Use a graph if it will help. 2. Price Changes and Responses by Consumers | Price
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Economics TOPIC 4: AGGREGATE DEMAND (AD)/ AGGREGATE SUPPLY (AS) MODEL Learning Objectives • Understand AD and AD curve • Discuss factors shifting AD curve • Understand AS and AS curve • Discuss factors shifting AS curve • Understand Macroeconomic equilibrium LO1 Aggregate Demand (AD) • AD refers to the real GDP demanded • • • at each price level. Y = AD = C + I + G + (X – M) There is an inverse relationship between real GDP demanded and the price level. AD curve is downward
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301 paper Economics 301 Managerial Economics Homework 1 1) Beginning in year 0‚ with a payment of $50‚000‚ what is the present value of an asset in perpetuity which grows by 4% each year and which is discounted at the rate of 6% each year? 2) Should we proceed with a project that will pay us $100 million per year for the next five years in return for an investment of $400 million today? Why‚ or why not? Assume the interest rate of 5% per year. 3) Chapter 1 problem 9 4) Let
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Chapter 2 MCQ’s 1) According to the Law of Demand‚ the demand curve for a good will A) shift leftward when the price of the good increases. B) shift rightward when the price of the good increases. C) slope downward. D) slope upward. Answer: C 2) An increase in the price of pork will lead to A) a movement up along the demand curve. B) a movement down along the demand curve. C) a rightward shift of the demand curve. D) a leftward shift of the demand curve. Answer: A 3) An increase in consumer incomes
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Price - Elastic Products With the question as stated: When would you want to own a business that sells price-elastic products? I think that any time could be a good time to own a price-elastic business. Obviously‚ the most opportune time would be when the economy is in the state that it is in today. The best kind of business to be in would be a store like Wal-Mart. Because the fact that Wal-Mart can offer almost countless products for sale‚ the price point on any one product can cause a great
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Crashing Projects Exercise Given below is the information for the IT project we discussed in our Week 5 commentary and its network diagram. In the Week 5 commentary‚ we crashed the project by three days‚ i.e.‚ from 20 to 17 days by crashing Activity C for two days and Activity F by a day. Now proceeding from here: Activity ID Predecessor Normal Time (Days) Crash Time (Days) Normal Cost Crash Cost ($’000) ($’000) A - 5 2 $100 $205 B - 6 3 $140 $205 C - 7 5 $140 $200 D A‚ B 6 2 $100 $340
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BUS101 Portfolio 2 Prepared by Lei Jin Updated Wednesday‚ February 2‚ 2011 Sony Net Slips 8.6%‚ Hit by TV Results By DAISUKE WAKABAYASHI WSJ Online FEBRUARY 3‚ 2011 http://online.wsj.com/article/SB10001424052748703437304576121240005019676.html?mod=WSJ_business_whatsNews This article reported that Sony Corp. announced an 8.6% decline in quarterly profit because the hurt by cutthroat market conditions crimping television
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Papiamento 101 Ami/Mi - I Abo - You Nos - We Hasi - Do I – And Of - Or Kier - Want E – He/She Ken - Who Cua - Which Sin - Without Kinan - Here Bai - Go Ban – Lets Esaki – This Esey - That Porta - Maybe Tin – have Awo - Now Cumi - With me Pa- For Un - A No/Si – Yes/No Pero – But Bon – Good Malo - Bad Mas - More Kiko/ Ki - What Cuanto – How much Paso -Because Dicon - Why Homber - Guy Muhe -Girl Mucha/Yiu - Child Pareha - Couple Chick - Girlfriend Dushi
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in this course. If you are not comfortable with basic algebra or geometry‚ if you are not eager to extend your abilities in mathematical modeling‚ or if you are seeking only a general overview of economists’ views on various topics‚ this section of ECON 201 may not be the best match for your interests. If you want rigorous (if basic) economic analysis to become a natural part of your own thought process and expect this course to be your first step rather than your last along this path‚ then I believe
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BRANDEIS UNIVERSITY Department of Economics Economics 10a Mr. Coiner Introduction to Microeconomics Fall‚ 2012 Problem Set 2 1. This question examines the impact of 5 events on the market for large automobiles with relatively low gas mileage and relatively high emission levels (think Hummer). Answer each part separately. For each event‚ indicate which curve (D or S) shifts‚ indicate in which direction (left or right) it shifts‚ and show in a demand-supply diagram in which
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