Thanks a lot . The opportunity cost of investing in a new lithotripter (a machin

Question

Thanks a lot .

The opportunity cost of investing in a new lithotripter (a machine that pulverizes kidney stones with sound waves) is defined by the dollar cost of the equipment. the same for every health care provider. measured by the difference between the expected revenues from selling the services of the lithotripter and the invoice cost of the machine. defined by the next best use of the money invested in the equipment. impossible to calculate. Which of the following statements is based on positive analysis? Individuals without health insurance have less access to physicians' services than those who have health insurance. The high cost of health insurance places U.S. firms at a competitive disadvantage with their foreign competitors. Employers should be required to provide health insurance for all full-time workers and their dependents. none of the above. Both a and b. Economists use the term "marginal" to describe costs and benefits that are minimal and hardly worth noting. that are incremental and thus relevant to decision making. that are noteworthy but not the most important. whose importance can be minimized through hard work. none of the above. An inferior good has a negative income elasticity. is one where the demand curve shifts to the left when income goes up. exists only in theory. is a low-quality good. Both a and b are true. Which of the following will not change the demand for office visits to the physician? unusually cold and damp weather during the winter. a change in the price of an office visit. layoffs at the local plant causing a decrease in the number of people with health insurance in the community. television advertising by drug manufacturers to promote a new over-the-counter influenza treatment. they all change the demand for office visits.

Explanation / Answer

1) d

2) e

3) b

4) e

5) e

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