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Output of lawn-care services, measured in the number of lawns, depends on the hours of lawn-maintenance...
1). Suppose that a firm uses inputs labour (L, measured in person hours) and capital (K, measured in machine hours) in...
1). Suppose that a firm uses inputs labour (L, measured in person hours) and capital (K, measured in machine hours) in the production of its output (Q) according to the production function Q min{2L, 3K} (a) Draw the isoquant line associated with 12 units of output. Measure K along the vertical axis and L along the horizontal axis. (b) Suppose that the price of labour is $2/person hour, and the price of capital is $4 / person hour. What is...
1. Some Economics of Pandemics: For each of the following markets, consider the effects of the...
1. Some Economics of Pandemics: For each of the following markets, consider the effects of the COVID-19 pandemic. Suppose there is a pandemic that is causing individuals to get sick and forcing firms to shut down to avoid contagion. Using simple supply (marginal cost) and demand (marginal benefits) curves explain the effect of this pandemic on each of the following markets/situations. In each market, carefully explain what is changing (e.g., demand/supply, quantity demanded/supplied), why it is changing (i.e., what underlying...
Suppose firm j’s output is given by yj = n 1−α j , where 0 <...
Suppose firm j’s output is given by yj = n 1−α j , where 0 < α < 1 (α is a parameter). Suppose the firm must pay a fixed cost b < α if it wants to operate. That is, the firm’s profits are given by π (nj ) = 0 , if nj = 0 and π (nj ) = n 1−α j − wnj − b , if nj > 0 where w is the wage. (a)...
12. At the profit maximizing output, calculate Beth's profit: a. $100 b. $200 c. -$2.50 d....
12. At the profit maximizing output, calculate Beth's profit: a. $100 b. $200 c. -$2.50 d. $40 5 13. Now suppose Beth's greedy father charges her to use the family lawn mower-$100 per week. Everything else is unchanged. How will this change affect the optimal number of acres to mow? a. b. c. Quantity will increase Quantity will decrease Quantity will remain unchanged 14. Suppose instead that Beth's father requires her to pay 50 percent of her weekly profits as...
1. Consider a risk-neutral firm that operates for two periods with a production function that depends...
1. Consider a risk-neutral firm that operates for two periods with a production function that depends only on the amount of labor hired: f(L) = 100L 1/2 . Assume that the interest rate (r) is equal to 5%. The wage in the first period is equal to $10 per hour, but the second period’s wage is either $10 (with probability 0.4) or $20 (with probability 0.6). The current price for the firm’s output is P 0 =$20. In the second...
could someon please explain how they got g h and i i need the answer to...
could someon please explain how they got g h and i
i
need the answer to 24.4
cW)=c Me=ry 14 (0) Consider a competitive industry with a large number of firms, U of which have identical cost functions (cy) = y2 + 1 for y> 0 and (0) = 0. Suppose that initially the demand curve for this industry is ven by DP) = 52 - p. (The output of a firm does not have to be an nteger number,...
competitive firm is the . 4. the vert Mive is atroduction. The short-run supply curve of...
competitive firm is the . 4. the vert Mive is atroduction. The short-run supply curve of ortion of its short-tun marginal cost curve that is competitive firm in the above its average variable cost curve, The o ward sloping an u petitive firm is the portion of its short-run marginal cost curve that supply curve of a Leuward-sloping and lies above its long-run average cost curve. Example: A firm has the long-run cost function cy) = 2y + 200 for...
Title: Partners Health Care Systems (PHS): Transforming Health Care Services Delivery through Information Management According to...
Title: Partners Health Care Systems (PHS): Transforming Health Care Services Delivery through Information Management According to government sources, U.S. expenditures on health care in 2009 reached nearly $2.4 trillion dollars ($2.7 trillion by the end of 2010).[1] Despite this vaunting national level of expenditure on medical treatment, death rates due to preventable errors in the delivery of health services rose to approximately 98,000 deaths in 2009.[2] To address the dual challenges of cost control and quality improvement, some have argued...
There are 2 pages in this assignment. There are 3 questions with parts. The weight of...
There are 2 pages in this assignment. There are 3 questions with parts. The weight of each part is indicated in the margin. Please answer the questions carefully. When asked to draw a graph, make sure you label all the curves and the axes. Sloppy work will not be graded or will lose points. Read carefully Chapter 3 as well as your class notes. (30pts) 1. Consider a perfectly competitive economy with K amount of capital and L amount of...
1. Focusing on only the inpatient care cost (i.e., ignoring operating room costs), what is the...
1. Focusing on only the inpatient care cost (i.e., ignoring
operating room costs), what is the cost of a TAH (non-oncology)
under each of the cost accounting systems? A tuboplasty? A TAH
(oncology)? What accounts for the differences?
Croswell University Hospital This report doesn't describe where our costs are generated. We're applying one standard to all patients, regardless of their level of care. What incentive is there to identify and account for the costs of each type of procedure? Unless...
1). Suppose that a firm uses inputs labour (L, measured in person hours) and capital (K, measured in machine hours) in the production of its output (Q) according to the production function Q min{2L, 3K} (a) Draw the isoquant line associated with 12 units of output. Measure K along the vertical axis and L along the horizontal axis. (b) Suppose that the price of labour is $2/person hour, and the price of capital is $4 / person hour. What is...
1. Some Economics of Pandemics: For each of the following markets, consider the effects of the COVID-19 pandemic. Suppose there is a pandemic that is causing individuals to get sick and forcing firms to shut down to avoid contagion. Using simple supply (marginal cost) and demand (marginal benefits) curves explain the effect of this pandemic on each of the following markets/situations. In each market, carefully explain what is changing (e.g., demand/supply, quantity demanded/supplied), why it is changing (i.e., what underlying...
12. At the profit maximizing output, calculate Beth's profit: a. $100 b. $200 c. -$2.50 d. $40 5 13. Now suppose Beth's greedy father charges her to use the family lawn mower-$100 per week. Everything else is unchanged. How will this change affect the optimal number of acres to mow? a. b. c. Quantity will increase Quantity will decrease Quantity will remain unchanged 14. Suppose instead that Beth's father requires her to pay 50 percent of her weekly profits as...
could someon please explain how they got g h and i
i
need the answer to 24.4
cW)=c Me=ry 14 (0) Consider a competitive industry with a large number of firms, U of which have identical cost functions (cy) = y2 + 1 for y> 0 and (0) = 0. Suppose that initially the demand curve for this industry is ven by DP) = 52 - p. (The output of a firm does not have to be an nteger number,...
competitive firm is the . 4. the vert Mive is atroduction. The short-run supply curve of ortion of its short-tun marginal cost curve that is competitive firm in the above its average variable cost curve, The o ward sloping an u petitive firm is the portion of its short-run marginal cost curve that supply curve of a Leuward-sloping and lies above its long-run average cost curve. Example: A firm has the long-run cost function cy) = 2y + 200 for...
There are 2 pages in this assignment. There are 3 questions with parts. The weight of each part is indicated in the margin. Please answer the questions carefully. When asked to draw a graph, make sure you label all the curves and the axes. Sloppy work will not be graded or will lose points. Read carefully Chapter 3 as well as your class notes. (30pts) 1. Consider a perfectly competitive economy with K amount of capital and L amount of...
1. Focusing on only the inpatient care cost (i.e., ignoring
operating room costs), what is the cost of a TAH (non-oncology)
under each of the cost accounting systems? A tuboplasty? A TAH
(oncology)? What accounts for the differences?
Croswell University Hospital This report doesn't describe where our costs are generated. We're applying one standard to all patients, regardless of their level of care. What incentive is there to identify and account for the costs of each type of procedure? Unless...
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