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3. Based on the following costs from a retrospective analysis, what is the 2019 value for the three alternatives using a medical consumer price index (MCPI) inflation rate of 2.5% per year? Year Alternative 1 cost (Php) Alternative 2 2016 2017 2018 2019 12,000 32,000 32,000 18,000 17,000 17,000 28,000 30,000 cost (Php) Alternative 3 20,000 21,000 21,000 21,000 cost (Php)

3. Based on the following costs from a retrospective analysis, what is the 2019 value for the three alternatives using a medical consumer price index (MCPI) inflation rate of 2.5% per year? Year Alternative 1 cost (Php) Alternative 2 2016 2017 2018 2019 12,000 32,000 32,000 18,000 17,000 17,000 28,000 30,000 cost (Php) Alternative 3 20,000 21,000 21,000 21,000 cost (Php)

Microeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Consumer Choice And Elasticity
Section: Chapter Questions
Problem 8CQ
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a. An Inpatient mental health hospital wants to estimate the effect of the new a. product on its budget. b. The state Medicald program wants to estimate the effect of the new product on its budget. C. The governor of your state wants to estimate the effect of the new product on the state budget. 3. Based on the following costs from a retrospective analysis, what is the 2019 value for the three alternatives using a medical consumer price index (MCPI) inflation rate of 2.5% per year? Year Alternative 1 cost (Php) Alternative 2 cost (Php) Alternative 3 cost (Php) 2016 | 12,000 2017 32,000 2018 32,000 2019 18,000 | 17,000 | 17,000 28,000 |30,000 20,000 21,000 21,000 | 21,000 discount ate, what is the 2020 present value of the costs of the three alternatives
Transcribed Image Text:a. An Inpatient mental health hospital wants to estimate the effect of the new a. product on its budget. b. The state Medicald program wants to estimate the effect of the new product on its budget. C. The governor of your state wants to estimate the effect of the new product on the state budget. 3. Based on the following costs from a retrospective analysis, what is the 2019 value for the three alternatives using a medical consumer price index (MCPI) inflation rate of 2.5% per year? Year Alternative 1 cost (Php) Alternative 2 cost (Php) Alternative 3 cost (Php) 2016 | 12,000 2017 32,000 2018 32,000 2019 18,000 | 17,000 | 17,000 28,000 |30,000 20,000 21,000 21,000 | 21,000 discount ate, what is the 2020 present value of the costs of the three alternatives
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