Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Question
Chapter 5, Problem 5IP
(a)
To determine
Criteria used to determine the diseases covered and those not covered under the Medicaid program.
(b)
To determine
Medicaid program and rationing.
(c)
To determine
Market rationing and government rationing.
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what is a rationing mechanism?
Suppose that the U.S. government places a ceiling on the price of a medical drug of $7.
1.) Using the point drawing
tool,
plot the quantity supplied on the supply line and label it.
2.) Using the point drawing
tool,
plot the quantity demanded on the demand line and label it.
3.) Using the double arrow
line,
indicate, via a label, the shortage or surplus.
Carefully follow the instructions above, and only draw the required objects.
The government in your country is considering three programs that affect the market of cigarettes.
Program 1: media campaigns and labeling requirements aimed at making the public aware 0f the dangers of cigarette smoking.
program 2: A price-support program for tobacco farmers.
Program 3: A cap on the number of cases of cigarettes sold per quarter at 20,000 cases.
The aim of the government is to support farmers while reducing the consumption of cigarettes.
What program or combination of programs should be implemented?
Choose 1
Program 3
Program 1
Program 1 and 3
Program 2
Reduce quantity of cigarettes consumed and reduce price of tobacco
All three programs
Reduce quantity of cigarettes consumed and reduce price of cigarettes
Reduce quantity of cigarettes consumed and increase price for tobacco
Program 1 and Program 2
Reduce quantity of cigarettes consumed and increase price for cigarettes
Chapter 5 Solutions
Microeconomics
Ch. 5.1 - Prob. 1QCh. 5.1 - Prob. 2QCh. 5.1 - Prob. 3QCh. 5.1 - Prob. 4QCh. 5.1 - Prob. 5QCh. 5.1 - Prob. 6QCh. 5.1 - Prob. 7QCh. 5.1 - Prob. 8QCh. 5.1 - Prob. 9QCh. 5.1 - Prob. 10Q
Ch. 5.A - Prob. 1QECh. 5.A - Prob. 2QECh. 5.A - Prob. 3QECh. 5.A - Prob. 4QECh. 5.A - Prob. 5QECh. 5.A - Prob. 6QECh. 5.A - Prob. 7QECh. 5.A - Prob. 8QECh. 5.A - Prob. 9QECh. 5 - Prob. 1QECh. 5 - Prob. 2QECh. 5 - Prob. 3QECh. 5 - Prob. 4QECh. 5 - Prob. 5QECh. 5 - Prob. 6QECh. 5 - Prob. 7QECh. 5 - Prob. 8QECh. 5 - Prob. 9QECh. 5 - Prob. 10QECh. 5 - Prob. 11QECh. 5 - Prob. 12QECh. 5 - Prob. 13QECh. 5 - Prob. 14QECh. 5 - Prob. 15QECh. 5 - Prob. 16QECh. 5 - Prob. 17QECh. 5 - Prob. 1QAPCh. 5 - Prob. 2QAPCh. 5 - Prob. 3QAPCh. 5 - Prob. 4QAPCh. 5 - Prob. 5QAPCh. 5 - Prob. 1IPCh. 5 - Prob. 2IPCh. 5 - Prob. 3IPCh. 5 - Prob. 4IPCh. 5 - Prob. 5IPCh. 5 - Prob. 6IPCh. 5 - Prob. 7IPCh. 5 - Prob. 8IPCh. 5 - Prob. 9IPCh. 5 - Prob. 10IPCh. 5 - Prob. 11IPCh. 5 - Prob. 12IPCh. 5 - Prob. 13IPCh. 5 - Prob. 14IP
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