Suppose that an extremely wealthy philanthropist has decided to build a network of medical care facilities in a country with an exceptionally homogeneous citizenry. The facilities will cost $100 billion to build, but after they are built, the marginal cost and average cost of a doctor visit at the facilities will be $50. The philanthropist will pay for building the facilities, but she does not want to pay for the cost of doctor visits. She is considering two different pricing systems for doctor visits. One option is to sell an "Unlimited Doctor Visit Plan" that allows buyers (with no further payments) to visit doctors as many times as they choose over the year. She has determined that if she offers these plans for $1500, each of the country's citizens will choose to buy the plan and visit a doctor 30 times per year. Her alternative option is to charge $50 per doctor visit. If the philanthropist's goal is to maximize the citizens' consumer surplus, which of the two options would you advise her to choose? Explain how you know - we are looking for a precise answer here.

Answers

Answer 1

The philanthropist would be advised to choose the "Unlimited Doctor Visit Plan." This is because it would maximize the citizens' consumer surplus. Suppose that the philanthropist offers the "Unlimited Doctor Visit Plan" at $1500, and each of the country's citizens buys the plan. Therefore, choosing the "Unlimited Doctor Visit Plan" would maximize the citizens' consumer surplus.

It follows that they would visit a doctor 30 times per year. If the philanthropist charged $50 per doctor visit, each citizen's yearly cost would be $1500.

As such, there would be no point in visiting the doctor more than 30 times per year. This is because a visit would cost more than what each citizen would already have paid for with the plan.

Therefore, choosing the "Unlimited Doctor Visit Plan" would maximize the citizens' consumer surplus.

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Related Questions

The total estimated cost of attending a public two-year college in Hasani’s home town last year was $2,265. The cost of attending the college is expected to increase 5% annually. Hasani plans to enter the college this year and attend for 2 years. Which is the best estimate for the total cost Hasani will pay for only his second year? $2,270.66 $2,275.00 $2,491.50 $2,497.16

Answers

Answer: Hi there! For this question, we will be compounding, because the cost of going of going to college goes up by 5% each year. The formula for compounding is P(1 + r)^t, where P = starting amount, r = rate, and t = time in years. First, let's add 5% (0.05) to 1. 1 + 0.05 is 1.05. We are talking about how much Hasani will have to pay in his second year. We will raise that number to the 2nd power. 1.05^2 is 1.1025. Now, we will multiply that number by2,265 to find the amount. When we multiply both numbers, we get 2,497.1625 or 2,497.16 when rounded to the nearest hundredth. There. Hasani will pay an estimated cost of $2,497.16. The answer is D.

Answer:

D

Explanation:

When a hotel does not fill a room and therefore the sale of that room on that day is lost forever, that refers to...
a.) product services-mix length
b.) seasonability
c.) perishability
d.) productservices-mix width
e.) tangible

Answers

Answer:

c.) perishability

Explanation:

The term perishability is used in marketing to describe the inability to keep or store services for sale in the future. Services are intangible and by nature. Once a service has been performed, it is deemed to have been consumed and cannot be returned or resold.

Once a service is offered, and the customer does take up the offer, it cannot be stored or kept for sale at a later date. If a hotel room is not booked for a particular night, the room does not generate any revenues for that night.  The hotel cannot store the room services for that night and offer them to customers any other time. The inability to preserve a service for sale at a later date is what marketers refer to as perishability.

What levels of risk does investing in the stock generally carry
medium
medium, high,
low, high
or low?

Answers

Low, high  levels of risk does investing in the stock generally carry. Over the long term, stocks have the highest potential for growth for investors. Investors who have chosen to hold onto stocks for an extended length of time—say let's 15 years.

Typically been rewarded with robust, profitable returns. Utilize your associated banking account to open a risk and trading account. Access that trading account. Choose the shares you want to purchase or sell. Make sure you have the necessary investing funds in your account to purchase the shares stocks. taking dividends in— Many stocks distribute dividends, which are based on the company's earnings per share.

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How can understanding your interests, skills, and personality help you in your career?

It can help you identify careers that you may enjoy.
It can show you the best possible company to work for.
It can determine your exact future income.
It can match you with a mentor.

Answers

It can help you identify careers that you may enjoy.

This is the most logical answer out of the four.

Hope this helps have a excellent day!

Answer: A, It can help you identify careers that you may enjoy.

although we cannot eliminate the encounter with death that accompanies disaster, steps can be taken to reduce its impact, preserve life and demonstrate

Answers

We cannot eliminate the encounter with death that accompanies disaster, spthese steps an be taken to reduce its impact, preserve life and demonstrate:

1. Preparedness: Planning and preparing for disasters can help reduce the impact of death and destruction. This includes having emergency plans in place, stocking up on necessary supplies, and conducting emergency drills to ensure that everyone knows what to do in the event of a disaster.

2. Early warning systems: Early warning systems can provide advance notice of impending disasters, allowing people to evacuate or take other necessary precautions to minimize the risk of death and injury.

3. Rescue and evacuation: Swift and organized rescue efforts can save lives and reduce the impact of disasters. This may involve search and rescue teams, medical personnel, and emergency responders working together to evacuate people from affected areas and provide them with medical attention.

4. Relief and recovery efforts: Providing relief and recovery efforts such as food, water, shelter, and medical aid can help alleviate suffering and prevent further loss of life.

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benefits of the crm systembased on the problems you have seen so far at gearon, what type of crm applications will be most helpful to the company?

Answers

The Customer Relationship Management (CRM) system is a valuable tool for Gearon to help manage customer relationships.

It will help streamline customer data, automate customer outreach, and provide insights into customer preferences. With a CRM system in place, Gearon can improve customer service and increase sales.

The CRM system will help Gearon better store and manage customer data, such as contact information, orders, customer service tickets, and more. With all of this data easily accessible in one place, Gearon will be able to quickly respond to customers’ requests and provide faster customer service.

Additionally, the CRM system can automate customer outreach such as email campaigns or targeted promotions. This will help Gearon increase sales by engaging with customers in a personalized way.

Lastly, the CRM system can provide valuable insights into customer preferences and trends, allowing Gearon to better tailor their services to customers’ needs.

Overall, the CRM system is a powerful tool that will help Gearon build stronger customer relationships, improve customer service, and increase sales.

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its the mickey mouse slaughterhouse u come inside ur bloods inside

Answers

Answer:

I think the answer is D I'm pretty sure that's what I put

Explanation:

because why not

Do you think percentage gains
would get more varied or less
varied if you added additional
mutual funds to your portfolio?

Answers

I think more varied if you added additional mutual funds you would have a more diverse portfolio.

The key idea that workers should be treated as assets was introduced by.

Answers

Peter Drucker, the management guru, in his Practice of Management, introduced the key idea that workers should be treated as company assets and not liabilities.

Who is Peter Drucker?

Peter Drucker is the inventor and creator of modern management practices. He is famed for asserting that workers are corporate assets and should be treated as such.

Peter Drucker's other assertions:

The corporation is a human community.

There is “no business without a customer.”

Institutionalized management practices should be preferred to charismatic cult leaders.

Thus, the key idea that workers should be regarded as assets of the company was introduced by Peter Drucker.

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for aws enterprise customers, any questions about billing and overall aws account can be directed to which aws support personnel?

Answers

Questions about invoicing for AWS Enterprise Accounts can be sent to the AWS Concierge.

They will respond to your questions about billing and accounts in a timely manner, and they will help with you to put best practices in place so you can concentrate on what really matters—running your business.

A designated Cloud Service Delivery Manager (CSDM), a Cloud Architect (CA), and access to the AMS security team are included as baseline operations.

Direct clients of AWS Managed Services who use AWS Enterprise Support can access AWS Incident Detection and Response in qualifying regions at no extra cost.

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N addition to industrial and reseller markets, organizational markets include ________ ones.

Answers

Answer: government

Explanation:Organizational buyers include all buyers except ultimate consumers.

When you are in a conflict that you are not passionate about it is seen as gracious to sometimes

Answers

Answer:

That's how it works

name 5 types of business farms​

Answers

Answer:

sole proprietorshiplimited liability companypartnershipcorporationcooperative.

Answer: sole proprietorship

limited liability company

partnership

corporation

cooperative.

non profit corparation

Explanation:

If Assets are $ 5,000 and Liabilities are $ 3,000, what is Owner’s Equity?

Answers

Answer:$2,000

Explanation:

Owner's equity = all of the assets - all of the liabilities

$5,000-$3,000=$2,000

Which TCF checking account fee is the most expensive?

Answers

Answer:

Explanation: it’s o stop payment fee

Can anyone help me?
Saving money allows u to set more aside in a(n) ____ fund

Emergency
Bond
Exchange

Can anyone help me? Saving money allows u to set more aside in a(n) ____ fund Emergency BondExchange

Answers

Answer:

Saving money allows you to set more aside in an Emergency fund.

How do pharmacies implement lean operations to ensure that customers will always receive their medications upon demand?

Answers

Pharmacies implement lean operations to ensure that customers will always receive their medications upon demand, they develop community networks as a backup system.

Lean operations is a enterprise method pushed via the principle of doing greater with much less. It's miles minimalist approach to day-to-day walking an enterprise and enhancing day-to-day operations. In different phrases, lean operations are all about placing a little Marie Kondo-like efficiency in day-to-day workflows.

Lean manufacturing improves performance, reduces waste, and will increase productiveness. The benefits, consequently, are manifold: elevated product day-to-day: advanced performance frees up employees and assets for innovation, and first-class control that could have formerly been wasted.

Lean operations are a means of running a corporation by using that specializes in supplying greater client pleasure at the same time as the use of as few sources as possible. The objective of lean operations is twofold: creating fees for day-to-day and putting off the waste. agencies that use lean operations are fairly concerned with performance.

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suppose the following describes your willingness to pay for pizza: $7 for the first piece $5 for the second piece $4 for the third piece $3 for the fourth piece $2 for the fifth piece. if each piece of pizza costs $3, then: group of answer choices consumer surplus would rise when the price rises. your consumer surplus from eating pizza would be $7 you would be satisfied after the first two pieces of pizza and not buy a third piece. you would consume five pieces of pizza.

Answers

If each piece of pizza costs $3, you would consume five pieces of pizza. The total cost for five pieces of pizza would be $15, which is lower than your willingness to pay of $21 .

This means that you would experience a consumer surplus of $6 ($21-$15).It is important to note that the consumer surplus would not rise when the price rises. In fact, if the price were to rise above $3 per piece, it is likely that you would consume fewer pieces of pizza, leading to a decrease in consumer surplus.It is also interesting to note that based on your willingness to pay, you would only be willing to pay $3 for the fourth and fifth pieces of pizza, which suggests that your marginal utility for pizza decreases as you consume more pieces.

This is supported by the fact that you would be satisfied after the first two pieces and not buy a third piece, indicating that your overall satisfaction with each additional piece decreases.Overall, this analysis demonstrates the importance of understanding consumer willingness to pay in pricing decisions and how it can impact consumer behavior and satisfaction.

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Explain the Importance of Strategic Human Resource Management in
organizations such as Samsung ( Korean) and Robert Bosch (
Germany).

Answers

Strategic Human Resource Management (SHRM) is crucial for organizations like Samsung and Robert Bosch as it aligns HR practices with business strategy, attracts and retains top talent, fosters employee engagement and diversity, manages change, and enables data-driven decision-making.

Strategic Human Resource Management (SHRM) is the alignment of HR practices with the overall strategic goals of an organization. In the case of Samsung and Robert Bosch, SHRM plays a vital role in their success. Here's why:

1. Alignment with Business Strategy: SHRM ensures that HR practices are in line with the strategic direction of the organization. This alignment helps HR contribute to achieving business goals by focusing on activities that directly support the company's strategy.

2. Talent Acquisition and Retention: Both Samsung and Robert Bosch rely on skilled employees to stay competitive. SHRM assists in attracting, selecting, and retaining top talent through effective recruitment, talent management, and employee development strategies.

3. Employee Engagement and Diversity: SHRM emphasizes creating a positive work environment and fostering employee engagement. It helps establish inclusive organizational cultures that value diversity, promote employee satisfaction, motivation, and well-being.

4. Change Management and Adaptability: SHRM is crucial for managing organizational change by facilitating effective communication, training, and development programs. It enables employees to adapt to new technologies, market dynamics, and embrace change.

5. Data-Driven Decision-Making: SHRM encourages the use of HR metrics and analytics to make informed decisions. By collecting and analyzing relevant HR data, organizations can gain insights into workforce trends, measure the impact of HR initiatives, and improve decision-making processes.

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The types of accounts which affect retained earnings are:
(Select all that apply)
Liabilities
Dividends
Assets
Revenues
Expenses

Answers

The amount of profit a business keeps after paying all of its direct and indirect expenses, income taxes, and dividends is known as retained profits.

Does accounts receivable have an impact on retained profits?

Any accounting method can be used to produce a retained earnings statement. The main distinction is that since neither is utilized in cash accounting, balances for accounts receivable and payable would not be included in the formula.

What three things make up retained earnings?

The beginning period retained earnings, net profit or net loss realized during the accounting period, and cash and stock dividends paid during the accounting period are the three elements that make up retained earnings.

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identify characteristics of notes payable that are not common to accounts payable.

Answers

Notes payable and Accounts payable are both used to represent the obligations that a company has to an entity. They are however different in certain ways such as:

Payment period Conversion Entities owed

The following are differences between notes payable and accounts payable:

Payment period - Accounts payable are to be paid in less than a year whereas Notes payable can either be less or more than a year.

Conversion - Accounts Payable can be converted to a notes payable if the company is unable to pay them off in time. A Notes payable on the other hand, cannot be converted to an Accounts payable.

Entities owed : Accounts payables are owed to suppliers of the company but Notes payable are owed to financial institutions.

In conclusion, notes payables and accounts payables have several differences.

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Discuss how you react to changes in the environment. For example, there is a change in your class schedule or a change in the price of your favorite food. Report on your reaction to changes in the environment.
- 

Answers

Answer: my reaction would probably not be good

Explanation:

7. Connor has identified the need to make changes in the efficiency of his customer service
department. In general, he will make changes in which three of the following categories?

Answers

Answer:

A) coordinate recruitment and compensation activities

PLEASE HELP, I WILL MARK BRAINLIEST!!! define/describe the following terms. note what the advantages and disadvantages of each are (from a worker's perspective). here are the following terms: contracting, consulting, entrepreneurship

please no links, this is due tommorow!!!​

Answers

The advantages of entrepreneurship include the ability to shape one's own business, control of one's own working habits, and significant stock in the venture. Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business. Higher take-home pay.
Tax relief on business expenses.
Greater opportunity for tax planning.
Total control of your business and name.
One company for all your business interests.
Limited liability and protection of personal assets.

Can someone please help me!

Can someone please help me!

Answers

Answer:

The awnser is the Nature of Business

Answer:

nature of business that's

Which of the following is a disadvantage associated with quantitative survey research designs?
A. Concepts and relationships that are not directly measurable cannot be studied using quantitative survey designs.
B. It is difficult to attain in-depth data with quantitative survey designs.
C. They cannot identify small differences.
D. Producing precise estimates can be a problem.
E. They do not facilitate advanced statistical analysis.

Answers

The correct answer is D. Producing precise estimates can be a problem.

One of the disadvantages associated with quantitative survey research designs is that producing precise estimates can be a challenge. While quantitative surveys aim to collect numerical data and provide statistical analysis, there are inherent limitations that can affect the precision of the estimates obtained. Factors such as sampling error, nonresponse bias, or measurement error can introduce variability into the data and impact the accuracy of the estimates. Issues like low response rates, self-reporting biases, or ambiguous survey questions can contribute to imprecise results.

Quantitative survey designs rely on collecting data from a representative sample, and any inaccuracies or biases in the data collection process can affect the precision of the estimates. Researchers need to carefully design their surveys, address potential sources of error, and interpret the results with caution to mitigate the impact of imprecision. While quantitative survey designs have numerous strengths, the potential for imprecise estimates is a recognized disadvantage that researchers must consider when conducting such studies. The correct Option hence is D. Producing precise estimates can be a problem.

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fran is a confident and assertive person. when she has something to say, she prefers to say it in person. fran is a confident and assertive person. when she has something to say, she prefers to say it in person. open choices for ranking no answer zach is constantly taking calls on his smartphone. zach is constantly taking calls on his smartphone. open choices for ranking no answer larissa likes to send a hand-written thank you note when she receives a corporate gift. larissa likes to send a hand-written thank you note when she receives a corporate gift. open choices for ranking no answer raja sends an annual newsletter to his family and friends each holiday season to tell them what he and his spouse and kids have been up to all year.

Answers

Fran values face-to-face communication and expresses her thoughts assertively. Zach, on the other hand, prioritizes his phone calls, and Larissa shows her appreciation through handwritten notes.

What are some ways in which Fran, Zach, Larissa, and Raja differ in their communication styles?

Communication styles and practices vary widely among individuals, as evidenced by Fran, Zach, Larissa, and Raja. Fran's preference for face-to-face interaction and assertiveness contrasts with Zach's constant phone usage.

Meanwhile, Larissa's handwritten thank-you notes show her thoughtfulness and attention to detail, while Raja's annual newsletters provide a glimpse into his family's life. These diverse communication styles and practices reflect each person's unique values and priorities.

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Christopher is a licensed sales agent sponsored by Coastal Realty in Corpus Christi, Texas. Jose has been a real estate broker in Playa del Carmen, Mexico, for five years. In that time, Mexico has not required any kind of license or registration to engage in brokerage activity. Christopher has clients interested in purchasing property on the Gulf Coast of Mexico. Christopher has referred his clients to Jose. Can Christopher accept compensation from Jose for referring his clients to Jose

Answers

Answer:

Yes.

Explanation:

Christopher can accept referring fee from Jose for clients referred to him but he should disclosed this fee as referring fee since he is a licensed agent. Jose may or may not disclose referral fee paid by him since he is not registered sales agent and Mexico does not require any kind of license for brokerage activity.

goods that are produced today in order to make other valuable goods and services in the future are called

Answers

Capital goods are produced today to be used in the production of future valuable goods and services. Hence, Option D is correct.

In order to produce consumer or other capital goods, businesses utilise capital goods, which are manufactured items. Products that people utilise are called consumer goods.

Tools, equipment, and structures are examples of capital goods. Food, home furnishings, apparel, and automobiles are a few examples of consumer goods.

It is common to use the words capital goods and consumer goods to categorise different types of goods. Any product that is used in production is a capital good.

Consumer goods are products that are used by consumers and have little potential for future productivity. Depending on how it is used, a particular physical good could be either a consumer good or a capital good.

Therefore, Option D is correct.

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The complete question has been attached in text form:

Goods that are produced today in order to make other valuable goods and services in the future are called

a. normal goods.

b. inferior goods.

c. consumer goods.

d. capital goods.

e. personal goods.

how do you start a business successfully

Answers

make sure to stay focused and to always have a positive mindset no matter what
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