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The terms microeconomic means what
In 2010, President Barack Obama and Congress enacted a healthcare reform bill in the United States. Two goals of the bill were to provide more Americans with health insurance (via subsidies for lower-income households financed by taxes on higher-income households) and to reduce the cost of healthcare (via various reforms in how healthcare is provided). a. How do these goals relate to equality and efficiency? b. How might healthcare reform increase productivity in the United States? c. How might healthcare reform decrease productivity in the United States?
suppose that the short run production function of shoe manufactured by certain ethiopian firm is given byq=4lsquare-0.2lcube where q reprsents the anual quantity of shoe quantity of shoe produced find AP of labour and MPof labour
Find the value of L that maxmize the out put
Find the value of L that maxmize marginal product
Find the valurle of L that maxmize averge product
Given the demand function P = 20 – 5Q, find the price elasticity of demand when price of the commodity is 5 Birr per unit. Mention if the demand is price elastic or inelastic at this point
Suppose that “Colgate” sells its standard size toothpaste for Ksh 35. Its sales have been on an average
9000 units per month. Recently, its close competitor “Close–Up” reduced the price of its standard size
toothpaste from Ksh 45 to Ksh 40. As a result, Colgate’s sales declined by 2500 units per month.
(i) What is the own-price elasticity of Colgate when the price rises from Ksh 35 to Ksh 40?
(ii) Calculate the cross elasticity of demand between the two products on the market and show how
the two products are related.
2 Of the three production stage ,which stage is efficient region in production,why/why not?
1 Explain the difference between excess demand and excess supply (show using the graph)
Explain what is productivity and how productivity is related to the standard of living? (4 marks)
B. Describe the FOUR (4) determinants of labor productivity in a particular country. (8 marks)
C. Explain the causal link between wealth and health. Describe the poverty vicious circle where poor countries are poor because their populations are not healthy, and their populations are not healthy because they are poor (cannot afford adequate healthcare and nutrition). (8 marks)
- Suppose a firm has limited money expenditure of 800 birr to be spent on two factors labour and capital. The price of capital is per hours and the price of labour is birr 10 per hours.
- A) draw the iso cost line
- B) calculate the slope of the iso cost line
Explain what is productivity and how productivity is related to the standard of living? (4 marks)
B. Describe the FOUR (4) determinants of labor productivity in a particular country. (8 marks)
C. Explain the causal link between wealth and health. Describe the poverty vicious circle where poor countries are poor because their populations are not healthy, and their populations are not healthy because they are poor (cannot afford adequate healthcare and nutrition). (8 marks)
