Finish the Econ homework for total 6 questions

Finish the Econ homework for total 6 questions. I will upload it below, if you couldn’t see it, please tell me I will re send it to you. thank you!

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1. Suggest several reasons why health care spending is higher in the United States than in other
countries. Is the fact that the U.S. population spends more per capita on health care than people
in any other developed country evidence of a failure of the U.S. system? What issues do you
think are involved in answering the question?
From the table above, examine the private health insurance, Medicare, and Medicaid
components. Which category grew the most between 1970 and 2014? Between 2000 and 2014?
What factors might have led to the differences in the growth rates?
3. When a welfare loss occurs because of monopoly, what exactly is lost? Who loses it?
4. Using a supply-and-demand graph and assuming competitive markets, show and explain the
effect on equilibrium price and quantity of the following:
a. A technological change that reduces the cost of producing X-rays on the market for
physician clinic services.
b. Increased graduations of new doctors on the market for physician services.
c. The virtual elimination of smoking in the population on the market for hospital services.
d. A price ceiling placed on physician fees in the market for physician services.
5. Consider the following table of costs and benefits from a governmental policy to clean the water
in a local area.
a. What level of abatement is most efficient by general economic criteria?
b. Would a 70 percent level of abatement pass a cost-benefit test? Is it efficient?
c. How would you respond to those who argue for 100 percent abatement?
6. Consider a project that costs $10,000 today. It will provide benefits of $4,000 at the end of Year
1, $3,500 at the end of Year 2, and $3,500 at the end of Year 3. If the discount rate is
a. 6 percent, will this project be approved using cost-benefit analysis? Would your answer
change if the discount rate is:
b. 5 percent?
c. 4 percent?

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