This is a course at MITx. I have several questions with proposed solutions. I will need you to check thru the solutions and tell me if these solutions are correct or wrong, and the actual solutions to it.The course is part of MITx's Data, Economics, and Development Policy (DEDP).I have attached the lecture notes.

1) Marginal AnalysisYou are the manager of GetMoney Inc. and you produce cardboard boxes.Suppose that you hired a consultant for your company to estimate the demand foryour cardboard boxes. You collect data on the price and quantity of boxes sold andsend it to your consultant, who then estimates the inverse demand equation as P = 14– (1.5)*Q. Please also assume that you have a fixed cost of $2 and that the variablecost as estimated by your consultant is V(Q) = 4Q + 𝑄2.a) What is the quantity that maximizes profits based upon the above information?What are the corresponding maximum profits that you can earn? (Please usegraphs to support your answer.)b) At the quantity that maximizes net benefit, are marginal revenues positive,negative, or zero? At this quantity, would you recommend increasing productionin order to increase revenues? Why or why not. (Please use graphs to support youranswer).c) Are marginal benefits equal to zero at this quantity? Why or why not?22) Supply and Demand/Demand AnalysisSuppose that your analyst estimates the demand equation for good X as given below:𝑄𝑑𝑥=12−𝑃𝑥−2𝑃𝑦+1𝑃𝑧+𝑀Good X sells for $1 per unit, good Y sells for $2 per unit, good Z sells for $1 per unit, and consumer income is $4.a. Using the information provided by your analyst, please determine the demand equation. (Please use graphs to support your answer).b. Please calculate the own price elasticity of demand for good X. Is the demand for good X elastic, inelastic, or unit elastic? (Please indicate where on your graph of the demand equation from part a, your calculation of own-price elasticity lies.)c. If I increase the price of good X by 0.13%, what happens to revenues? (Please use graphs to support your answer.)II. Essays3) Supply and DemandFor this question, please find an article from a mainstream news source that discusses the effect of supply and demand shocks on prices in the market of a particular product and use graphs to support your answer. Please also discuss whether you think that the graphs and noted shocks are consistent with the discussion in the article regarding price effects.4) Elasticity of demand For this question, please find an article from a mainstream news source that covers the topic of elasticity of demand, which highlights the importance of elasticity of demand, prices, and revenues as it affects the determination of prices in the market of a particular product and use graphs to support your answer.

HLTH 4530: Healthcare Economics From a Population Health PerspectiveValue based purchasing is a payment model that offers financial incentives to healthcare providers and organizations when they meet certain performance measures. This model also penalizes healthcare providers for poor outcomes, medical errors, or increased costs. Managed Care Organizations (MCOs), Accountable Care Organizations (ACOs), and Bundled Payment Care Improvement (BPCI Advanced) are prospective value-based purchasing programs aimed at improving healthcare quality and reducing costs. Hospitals and physicians participate in these programs with the goal of getting the right care to the right patient at the right time.In this Discussion, you will consider what happens with these systems as they relate to nursing home care. Nursing home administrators are facing a reduction in the demand for skilled nursing rehabilitation (SNF) beds, while physicians in an ACO or a gain-sharer in a BPCI program are looking at discharging patients with home care or outpatient resources to reduce cost. All these programs are affected by re-admission penalties.Most businesses are constantly looking to reduce cost. In healthcare, often the necessity to reduce cost means a reduction in utilization. Consider how this compares to a retail market where reduced demand reduces cost by consumer choice. How much influence does the consumer have on the change in healthcare economics? Is it the payer (Medicare), the provider (the physician), or the patient?Consider the following scenarios:Scenario 1: You are a rehabilitation director in a nursing home. Your administrator has given you the directive that, to participate with a Medicare MCO and become a preferred provider for a hospital BPCI or comprehensive care for joint replacement (CJR) program, you need to reduce the length of stay for the short-term rehab patients from 20 days to 10 days for DRG 470: Total knee replacement. To compound the problem, you see that the usual 400 total knee patients you get annually has been reduced to 160 patients.Scenario 2: You are the manager of a large orthopedic practice who participates in the BPCI program. Your practice does 400 total knee patients each year. Medicare has set pricing for a Total Knee Replacement patient at $28,415 per patient for a 90-day episode of care. Current practice is that all patients automatically go to a skilled nursing facility (SNF) for 20 days. Based on current research the goal is for 60% of your patients to go home with home care and those going to a SNF to stay for 10 days so the BPCI program will be profitable.Select one of the two scenarios to focus on for this Discussion.Reflect on the scenario, and consider redesign measures you might recommend. For example, consider length of stay, reducing readmissions, attracting new business, care redesign, patient satisfaction, and physician engagement. Post a comprehensive response to the following:Describe at least three care redesign strategies you might recommend to the scenario.Justify why you selected these three care redesign strategies and explain how you would implement the redesign strategies you recommended.Be specific, and provide examples.Be sure to support your Discussion with a references within the last three years.350 words minimum