Discuss whether face-mask for Covid-19 is producing adequately (i.e. optimum output) during pandemic. If not, what should government do? draw a diagram to illustrate your answer.
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Discuss whether face-mask for Covid-19 is producing adequately (i.e. optimum output) during pandemic. If not, what should government do? draw a diagram to illustrate your answer.
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- A medical reported that the consumption of this product has many health benefits Describe how does this would affect the market for the product.1. If you are trying to use a RDD setup to evaluate the effect of health insurance on health, and you qualify for a health insurance subsidy if your family income is below $20,000. What's the running variable? What's treatment, and what's the outcome?What impact would child immuniation intervention have on demand and consumer behavior in the long run?
- How do preferences on the available vaccine for COVID19 affect or contribute to microeconomics? Please answer in 250 words.Why will the market fail to yield efficient outcome during the pandemic?Suppose you are collecting data from a country like Japan where the government sets the price of healthcare. Each prefecture in Japan has a different set of prices (for example, Tokyo has higher prices than rural Hokkaido). Data for 1999 are displayed in the table below. Region Outpatient Visits per Month Price per Visit Tokyo 1.25 25 Hokkaido 1.75 15 (4 points) What is the arc price elasticity of demand for health care consumers in Japan (using only these data)? (4 points) Suppose that incomes are generally much higher in Tokyo than Hokkaido. Is your answer to the last question an overestimate or underestimate of price elasticity? Justify your answer. (c) (4 points) Using your estimated elasticity, what would the demand for health care be if the price in Tokyo were raised to 30 per visit? What would the demand in Hokkaido be if the price were lowered to 5 per visit?
- Historically, vaccinations have prevented the spread of certain diseases such as chicken pox or meningitis. What type of externality takes place with the consumption of such vaccines. Explain with words and a graph.what is the relationship between the financial well-being of the industry and availability of healthcare, in consideration of market and demand theories?How to draw the market equilibrium quantity of the vaccine diagram?