1. Give an example of a government-created monopoly. Is creating
this monopoly necessarily bad public policy? Explain.
2. Define natural monopoly. What does the size of a market have
to do with whether and industry is a natural monopoly or not?
3. Why is a monopolist’s marginal revenue less than the price of
its good? Can marginal revenue ever be negative? Explain.
4. What is the profit-maximizing level of output and
profit-maximizing price for a monopoly? Explain in terms of...
Assume mark is a monopoly producer of illegal substances in his
hometown. He faces a demand for these substances represented by the
demand function Q=150-3p .
TR=50q-1/3q^2
MR=50-2/3q
Marginal cost function is 1/3q+5 so profit max Q =45
(please check to see if TR MR and PM are correct) and also
answer Is it reasonable to assume that mark would be a monopoly
producer of illegal substances ....What does theory tell us about
why he may be the only producer?
Assume that a hospital is a profit maximizing firm and is a
local monopoly. It accepts a mix of privately insured and public
patients (i.e. patients who are in public insurance programs such
as Medicare and Medicaid). The private sector faces a downward
sloping demand curve, and the public sector faces a fixed regulated
government price.
Suppose government changes its policy to reduce the
reimbursement (i.e. the government price) to hospitals.
Use the economic model of price discrimination to show...
CASE: Boeing and Airbus Are in a Dogfight over Illegal
Subsides
Boeing and Airbus are the dominant players in the global market for
large commercial jet aircraft of 100 seats or more. The two
companies are locked in a rent less battle for market share. For
decades, these two companies have been accusing each other of
benefitting from the government subsidies. In its early years,
Airbus received 100 percent of the funds it needed to develop new
aircraft from...
This week you learned about mental health and law. You also
learned about the case of Andrea Yates. Your discussion is two
fold.
Part A:
Having read about Andrea Yates, answer the following
questions keeping her in mind:
How should judicial system prosecute a mentally disturbed
offender who has committed a serious crime?
When answering this question, think about jury selection
(should the jury receive training in mental illness). Think about
the judges presiding over these cases (should the judge...
Assume Health-R-Us is a legal monopoly: it is a monopoly due to
legal protection from the government in the form of a patent issued
to the company. Imagine that the government withdraws the legal
protection for Health-R-Us such that the market becomes
competitive.
Will a typical individual firm in this competitive market make
economic profit in the long run? Why or why not? Use an appropriate
firm-level diagram to illustrate and explain your answer.
Assume Health-R-Us is a legal monopoly: it is a monopoly due to
legal protection from the government in the form of a patent issued
to the company. Imagine that the government withdraws the legal
protection for Health-R-Us such that the market becomes
competitive. Will a typical individual firm in this competitive
market make economic profit in the long run? Why or why not? Use an
appropriate firm-level diagram to illustrate and explain your
answer?
Research and analyze the critical needs of the hospital by
creating a list of 10 key areas that would be addressed in the
RFP.
Examine and evaluate HIPAA, Electronic Health Records, and
Quality Improvement initiatives.
Examine and evaluate Information Technology and how IT works
within a health care setting.
Explain how IT and Administration can work in a collaborative
environment
Evaluate the policies and Human Resource guidelines of the
hospital.