Question

54. Since 1929, the income inequality in the United States has A. been unchanged B. decreased from 1929 to 1970 and then increased from 1970 to today increased from 1929 to 1970 and then decreased from 1970 to today. D none of the above 55, The slope of the line of absolute equality is equal to one for the True False Extra Credi 56. Who are the payers for healthcare in the U.S.? A. Medicare. B. Medicaid. Private health insurance All of the above. 57. The Affordable Care Act (Obamacare) has fixed the following problems EXCEPT: A. the uninsured problem as more people gain health insurance coverage B. discrimination problem as people with pre-existing conditions allowed to sign up for health insurance. ing cost problem. adverse selection problem due to the individual mandate II. Short Answer and Graph Questions - write your answers neatly and clearly. 1. The marginal cost is MC = 10 and total cost is TC-10Q·The demand curve is Q 20-P. Given the information, answer the following questions. Show your work to receive full credit (14 points). a. For a perfectly competitive firm: i) Calculate the equilibrium quantity 20-2 ii) Calculate the equilibrium price: ii) Calculate the maximizing profit:

Answer 1

As per HOMEWORKLIB RULES first 2 questions are answered

Kindly ask rest of the questions in a separate post

1.

(B) Decreased from 1929 to 1970 and then Increased from 1970 to today

Reason: The income inequality in US has decreased till 1970 but has been increasing till today and is a major concern for the economy

2.

True

Reason: Im case of Lorenz curve, absolute perfect equality of income is represented by a 45-degree straight line with a slope of 1