Business, 14.02.2020 17:23 silverdays566
Sammy used his past health history and information about his doctor visits to create this table to compare health costs with and without insurance.
Description of Service Probability of Needing the Service Cost with Insurance Plan Cost Without Insurance Plan
annual premium 100% $1,580 $0
single doctor visit 30% $25 $350
two doctor visits 18% $50 $700
medication 6% $24 $75
What is the expected value of each option?
The expected value of health care without insurance is $
.
The expected value of health care with insurance is $
.
Answers: 1
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What do economists mean when they use the latin expression ceteris paribus?
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Answers: 2
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Business, 22.06.2019 13:20
Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.
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Sammy used his past health history and information about his doctor visits to create this table to c...
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