Question
16.1 Global warming is a classic example of a public good. Analyze this comment and explain your answer. 16.2. The existence of market failure does
16.1 Global warming is a classic example of a public good. Analyze this comment and explain your answer.
16.2. The existence of market failure does not signal what should be done in response. Analyze this comment and explain your answer.
17.1 Prices for a medical procedure average $1,000 and range from $800 to $1,200. How much could a consumer paying full price save by getting the best price? Suppose that insurance is responsible for 75 percent of the consumer's spending and that out of-pocket spending is limited to $250. How much could the consumer save by getting the best price?
17.2. Why are many economists opposed to licensure of medical facilities and personnel? There are three reasons.
Chapter 18:
18.1 How could you use behavioral economics to increase the number of insured employees in your firm?
18.2 Your vice president is an accountant and believes that accountants make the best practice managers. One of the three finalists for a practice management has an accounting background. Everyone on the search team has ranked this candidate lowest of the finalists. You fear that your vice president will tend to selectively read the team's recommendations and lean toward hiring this person. What can you do to offset this potential confirmation bias?
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