What is the best way to ensure that individuals with pre-existing health conditions have access to affordable insurance coverage?
a. Place everyone in the same risk pool and charge everyone, sick and healthy, the same community-rated premium.
b. Place those with pre-existing conditions into separate risk pools, charging them risk-rated premiums, and provide taxpayer financed subsidies to make the coverage affordable.
c. Mandate that every provider accept individuals with pre-existing conditions on a pro bono basis and subsidize the cost of their care by charging higher prices to those with insurance.
d. Allow those individuals with pre-existing conditions to purchase insurance based on their own health status.
b. Place those with pre-existing conditions into separate risk pools, charging them risk-rated premiums, and provide taxpayer financed subsidies to make the coverage affordable.
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Ceteris paribus, an increase in consumers' income will result in: a. a decrease in demand for an inferior good
b. an increase in demand for an inferior good. c. a decrease in the quantity supplied of an inferior good. d. an increase in the quantity supplied of an inferior good.
If a boxing fight is shown on pay-per-view television every Saturday at 4pm, the demand curve for each fight is given below.
If the regulated pay-per-view charge to watch a fight were $15 per household, then ________ households would watch the fight, and the loss is total economic surplus would be ________ relative to when there is no charge to watch the fight.
A. 10 million; $225 million B. 10 million; $25 million C. 20 million; $25 million D. 20 million; $225 million
In 2004, hurricanes destroyed a large portion of Florida's grapefruit crop. How did this affect the market price and market quantity of grapefruit?
What will be an ideal response?
Average total cost is __________ divided by the number of units of output.
A) total cost B) total variable cost C) total fixed cost D) marginal cost