Description
Analyze, Be as specific as possible.
After taking economics, outline a formula for making your local government "better and cheaper” for its citizens. What recommendations would you make?
Criteria: 1-2 Page paper. Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
Explanation & Answer
Review
Review
Anonymous
I was struggling with this subject, and this helped me a ton!
Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Most Popular Content
21 pages
Economics 102.docx F
A. Sample correlation coefficient between hourly wages and years of dev_years = years - mean_years, #deviation of years fr ...
Economics 102.docx F
A. Sample correlation coefficient between hourly wages and years of dev_years = years - mean_years, #deviation of years from mean
Rasmussen College Principles of Economics Questions
You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the sa ...
Rasmussen College Principles of Economics Questions
You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You are asked to write a professional document that discusses the concepts below.How would economic fluctuations affect the sale of smartphones?Please define the four phases of the business cycle that affect economic fluctuations.How would unemployment levels affect the sale of smartphones?How would the sale of smartphones be affected if the labor force participation rate decreased?Please define the labor force participation rate and provide the current labor force participation rate in the United States.How would inflation and less consumer purchasing power affect the sale of smartphones?
HSA 4430 UWF Utility and Wealth Function Questions
HSA 4430 Project 1.Suppose that an individual has the following utility function, 𝑈 = 𝑊., where U stands for utilit ...
HSA 4430 UWF Utility and Wealth Function Questions
HSA 4430 Project 1.Suppose that an individual has the following utility function, 𝑈 = 𝑊., where U stands for utility and W for Wealth. The individual currently has a net wealth of $400,000. The individual believes there is a 5% chance they will get into a car accident this year. It is expected that a car accident would cost them $100,000 (dropping their overall wealth to $300,000). a)How much would it cost to purchase an actuarially fair insurance policy to cover all losses from a car accident? (In other words, what are the expected losses) b)How much would the individual be willing to pay for this policy? (What are the maximum loading fees that an insurance company could charge for this policy) c)Provide an example utility function for a risk-averse, a risk-neutral, and risk-loving individual. You may use a graph or mathematical formula. 2.In one state, 9 insurance companies have at least a five percent share of the market. One firm controls a 30% share, two each have a 20% share, and the remaining six firms each have a 5% share. a)Calculate the HHI for insurance in this state. b)What does this say about the level of competition? Provide a 2-3 sentence explanation. c)Suppose the largest firm decides to split into two firms (each has a 15% share). Calculate the new HHI after the split. Using economic theory, identify and explain how the split may affect the cost and quality of insurance. 3.Suppose that of the 4,000 patients that are treated for stomach pains at Seattle Grace Hospital each year, 25 of them have an undiagnosed tumor that will cause them to die in one year if not treated. A blood test that can correctly identify all tumors costs $3,500 per test. However, all patients treated for stomach pains must be tested in order to identify the 25 patients with a tumor. Individuals who have the tumor removed are expected to live for 20 more years. On average, individuals with a tumor (with or without receiving treatment) will enjoy a quality of life of 0.75 on a QALY scale while they are alive. A year in perfect health (1 QALY) is valued at $50,000. a)What is the cost of blood testing per year of life saved? b)What is the cost of blood testing per QALY? c)Does a cost-benefit analysis support running the blood test on each patient at Seattle Grace?4.A study finds benefit in giving patients the flu shot while they visit the doctor for routine check-ups. Specifically, the probability of getting the flu drops from 30% for those not treated to 15% for those who receive the vaccine. We consider the costs and benefits of a clinic providing the flu shot for its 5,000 patients when: -The cost of the flu shot is $20 -The benefits from getting the flu shot last for one year-On average, individuals place a benefit on not getting the flu at $250 a) Perform a cost-benefit analysis of the flu shot. Does it favor the vaccination? b) What is the cost of the flu shot per case avoided? c) Now consider that the benefit of not getting the flu is $200. Does this change your answer from part a? Explain. 5. Dragon Pox is a contagious disease that mainly occurs in older witches and wizards. St. Mungos hospital has a cure for this disease, called the TTT (tried and true technique), but it is not without drawbacks. Recently, the hospital has been testing three new alternate treatments, brilliantly titled New Options A, B, and C. You are tasked with performing a costutility analysis to compare the new alternatives to the current treatment. Current (TTT) New Option A New Option B New Option C Mortaility Rate 10% 10% 6% 3% Life Expectancy for Survivors (Years) 25 27 30 32 Expected Survivor Quality of Life (QALY scale) 0.8 0.8 0.85 0.75 Initial Treatment Cost $5,000 $12,000 $20,000 $22,000 Follow-up costs-year 1 $2,500 $5,000 $4,000 $5,000 Annual Follow-up costs, subsequent years $1,000 $1,500 $2,000 $2,500 (a) What are the expected costs for survivors of each option? For decedents (assuming death occurs right after treatment)? (b) What are the expected costs from each option? Remember to take the mortality rate into consideration for both this and part c. (c) Calculate the expected QALY's of each option. (d) Graph the effectiveness and costs of each option. In Excel, this can be done using an XY Scatter plot. Effectiveness should be on the Y axis and Costs should be on the X axis. (e) Calculate the ICER's in terms of additional costs per QALY gained.
MSUB Trade Similarities and Differences Between Colombia Indonesia & Taiwan PPT
In the response, please identify similarities and differences between my project country which is Colombia for coffee expo ...
MSUB Trade Similarities and Differences Between Colombia Indonesia & Taiwan PPT
In the response, please identify similarities and differences between my project country which is Colombia for coffee export to the U.S and those three other project, and three other countries trade with U.S. Comment on what you learned about those countries’ trade relationships. only use what stated on these PowerPoints, please don't use outside sources. the infos should be about "2 minuets presentation."
6 pages
Consumer Demand Analysis
Economic fluctuations, unemployment, inflation all impact the demand and supply of goods. Taking the example of the iPhone ...
Consumer Demand Analysis
Economic fluctuations, unemployment, inflation all impact the demand and supply of goods. Taking the example of the iPhone 6 Plus, the present ...
8 pages
Website Consultancy Financial Analysis
Total revenue is significant as firms aim to optimize the gap between their overall revenue and expenses to increase profi ...
Website Consultancy Financial Analysis
Total revenue is significant as firms aim to optimize the gap between their overall revenue and expenses to increase profitability. It is determined ...
Similar Content
MET 4953 Oklahoma State University Insulation Case Work Paper
read chapter 11 to solve this problems,the book is free online:Capehart, B. L.;W. C. Turner; and W. J. Kennedy.Guide to En...
Please see document attached to see complete question
week 3 science.docx...
Write a thorough analysis of unemployment
Write a thorough analysis of unemployment, defining the various types of unemployment, full employment, and the natural ra...
Transformative Leadership Discussion
I want a short explanation on transformative leadership
...
Pasadena City College Keynesian Fiscal Policy and Economic Concepts Essay
So far I have learned Unit 1: Basic Economic ConceptsTopics: Scarcity, Opportunity Cost, PPC, Comparative Advantage, Deman...
Read the Chapter 6 Mini-Case: Sany Heavy Industry Co., Ltd
word limit 350Read the Chapter 6 Mini-Case: Sany Heavy Industry Co., LtdRespond to question 2: How does the level of chang...
Price Discrimination 2
Notably, Sam's Club and CVS's personalized discounts are better than the generic use of coupons. Price discrimination can ...
Problem Set Number Three
a. According to the NYS Health Department report, what would be some of the benefits of the legalizing marijuana in New Yo...
Economic Discussion Questions
An increase in taxes will produce an inverse relationship on the demand and supply. A 75% increase in taxes will negativel...
Related Tags
Book Guides
Get 24/7
Homework help
Our tutors provide high quality explanations & answers.
Post question
Most Popular Content
21 pages
Economics 102.docx F
A. Sample correlation coefficient between hourly wages and years of dev_years = years - mean_years, #deviation of years fr ...
Economics 102.docx F
A. Sample correlation coefficient between hourly wages and years of dev_years = years - mean_years, #deviation of years from mean
Rasmussen College Principles of Economics Questions
You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the sa ...
Rasmussen College Principles of Economics Questions
You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You are asked to write a professional document that discusses the concepts below.How would economic fluctuations affect the sale of smartphones?Please define the four phases of the business cycle that affect economic fluctuations.How would unemployment levels affect the sale of smartphones?How would the sale of smartphones be affected if the labor force participation rate decreased?Please define the labor force participation rate and provide the current labor force participation rate in the United States.How would inflation and less consumer purchasing power affect the sale of smartphones?
HSA 4430 UWF Utility and Wealth Function Questions
HSA 4430 Project 1.Suppose that an individual has the following utility function, 𝑈 = 𝑊., where U stands for utilit ...
HSA 4430 UWF Utility and Wealth Function Questions
HSA 4430 Project 1.Suppose that an individual has the following utility function, 𝑈 = 𝑊., where U stands for utility and W for Wealth. The individual currently has a net wealth of $400,000. The individual believes there is a 5% chance they will get into a car accident this year. It is expected that a car accident would cost them $100,000 (dropping their overall wealth to $300,000). a)How much would it cost to purchase an actuarially fair insurance policy to cover all losses from a car accident? (In other words, what are the expected losses) b)How much would the individual be willing to pay for this policy? (What are the maximum loading fees that an insurance company could charge for this policy) c)Provide an example utility function for a risk-averse, a risk-neutral, and risk-loving individual. You may use a graph or mathematical formula. 2.In one state, 9 insurance companies have at least a five percent share of the market. One firm controls a 30% share, two each have a 20% share, and the remaining six firms each have a 5% share. a)Calculate the HHI for insurance in this state. b)What does this say about the level of competition? Provide a 2-3 sentence explanation. c)Suppose the largest firm decides to split into two firms (each has a 15% share). Calculate the new HHI after the split. Using economic theory, identify and explain how the split may affect the cost and quality of insurance. 3.Suppose that of the 4,000 patients that are treated for stomach pains at Seattle Grace Hospital each year, 25 of them have an undiagnosed tumor that will cause them to die in one year if not treated. A blood test that can correctly identify all tumors costs $3,500 per test. However, all patients treated for stomach pains must be tested in order to identify the 25 patients with a tumor. Individuals who have the tumor removed are expected to live for 20 more years. On average, individuals with a tumor (with or without receiving treatment) will enjoy a quality of life of 0.75 on a QALY scale while they are alive. A year in perfect health (1 QALY) is valued at $50,000. a)What is the cost of blood testing per year of life saved? b)What is the cost of blood testing per QALY? c)Does a cost-benefit analysis support running the blood test on each patient at Seattle Grace?4.A study finds benefit in giving patients the flu shot while they visit the doctor for routine check-ups. Specifically, the probability of getting the flu drops from 30% for those not treated to 15% for those who receive the vaccine. We consider the costs and benefits of a clinic providing the flu shot for its 5,000 patients when: -The cost of the flu shot is $20 -The benefits from getting the flu shot last for one year-On average, individuals place a benefit on not getting the flu at $250 a) Perform a cost-benefit analysis of the flu shot. Does it favor the vaccination? b) What is the cost of the flu shot per case avoided? c) Now consider that the benefit of not getting the flu is $200. Does this change your answer from part a? Explain. 5. Dragon Pox is a contagious disease that mainly occurs in older witches and wizards. St. Mungos hospital has a cure for this disease, called the TTT (tried and true technique), but it is not without drawbacks. Recently, the hospital has been testing three new alternate treatments, brilliantly titled New Options A, B, and C. You are tasked with performing a costutility analysis to compare the new alternatives to the current treatment. Current (TTT) New Option A New Option B New Option C Mortaility Rate 10% 10% 6% 3% Life Expectancy for Survivors (Years) 25 27 30 32 Expected Survivor Quality of Life (QALY scale) 0.8 0.8 0.85 0.75 Initial Treatment Cost $5,000 $12,000 $20,000 $22,000 Follow-up costs-year 1 $2,500 $5,000 $4,000 $5,000 Annual Follow-up costs, subsequent years $1,000 $1,500 $2,000 $2,500 (a) What are the expected costs for survivors of each option? For decedents (assuming death occurs right after treatment)? (b) What are the expected costs from each option? Remember to take the mortality rate into consideration for both this and part c. (c) Calculate the expected QALY's of each option. (d) Graph the effectiveness and costs of each option. In Excel, this can be done using an XY Scatter plot. Effectiveness should be on the Y axis and Costs should be on the X axis. (e) Calculate the ICER's in terms of additional costs per QALY gained.
MSUB Trade Similarities and Differences Between Colombia Indonesia & Taiwan PPT
In the response, please identify similarities and differences between my project country which is Colombia for coffee expo ...
MSUB Trade Similarities and Differences Between Colombia Indonesia & Taiwan PPT
In the response, please identify similarities and differences between my project country which is Colombia for coffee export to the U.S and those three other project, and three other countries trade with U.S. Comment on what you learned about those countries’ trade relationships. only use what stated on these PowerPoints, please don't use outside sources. the infos should be about "2 minuets presentation."
6 pages
Consumer Demand Analysis
Economic fluctuations, unemployment, inflation all impact the demand and supply of goods. Taking the example of the iPhone ...
Consumer Demand Analysis
Economic fluctuations, unemployment, inflation all impact the demand and supply of goods. Taking the example of the iPhone 6 Plus, the present ...
8 pages
Website Consultancy Financial Analysis
Total revenue is significant as firms aim to optimize the gap between their overall revenue and expenses to increase profi ...
Website Consultancy Financial Analysis
Total revenue is significant as firms aim to optimize the gap between their overall revenue and expenses to increase profitability. It is determined ...
Earn money selling
your Study Documents