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Question: with respect to ppf demand amp supply pricing marginal decision...

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(with respect to PPF, Demand & Supply, Pricing, marginal decision making, etc.), post a discussion & a reply to another post, regarding the following question:

Why is the Affordable Care Act (commonly known as Obamacare) not providing, at this time, affordable & quality healthcare when you need it (demand), and is providing overly expensive, lower quality healthcare (supply), with the possibility of failing to provide any healthcare (supply) in the near future? Is it because of it's structure (government sponsored vs. free market)? Explain your answer.

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t Present.. Ch. 10 formulas.pdf PowerPoint Present... PowerPoint Present..x 3 Key Concepts in EconomicS (Bof 7) 1-3d Decisions Made at the Margin Marginal benefits (MB): Additional benefits; the benefits connected with consuming an additional unit of a good or undertaking one more unit of an activity . Marginal costs (MC): Additional costs; the costs connected with consuming an additional unit of a good or undertaking one more unit of an activity Decisions at the Margin: Decision making charactrized by weighing the aditional (miarginal) benefits of a change against the additional (marginal) costs of a change with respect to current conditions 10

1 The Production Possibilities Frontierp of 2-1a The Straight-Line PPF: Constant Opportunity Production Possibilities Frontier (PPF): The produced during a certain span of time under the Costs possible combinations of two goods that can be conditions of a given state of technology and fully employed resources . Notice that the PPP is a straight line; this is because the opportunity cost of books and shirts Exhibit 1) is constant - Straight-Line PPF- Constant opportunity costs

2-1 The Production Possibilities Frontieror) . 2-1c Law of Increasing Opportunity Costs . Law of Increasing Opportunity Costs: As more of a good is produced, the opportunity costs of producing that good increase In the real world, most PPFs are bowed outward; for most goods, the opportunity costs increase as more of the good is produced . The law of increasing opportunity costs holds for most goods because people have varying abilities Exhibit 4 summarizes the points in this section

el rPoint Preset... Ch. 10 formulas.pdf PowerPoint Present..x 3-1 What is Demand? odrp) Market: Any place people come together to trade . Demand: The willingness and ability of buyers to purchase different quantities of a good at different prices during a specific period . 3-1a The Law of Demand . Law of Demand: As the price of a good rises, the quantity demanded of the good falls, and as the price of a good falls, the quantity demanded of the good rises, ceteris paribus PlQ,1,ceteris paribus . Where P- price, and Qa + quantity demanded

dow Hel PowerPoint Present... Ch. 10 formulas.pdfPowerPoint Pres 3-1 What is Demand? s of 9) o 3-le A Change in Quantity Demanded Versus a Change in Demand . Quantity demanded the number of units of a good that individuals are willing and able to buy at a particular price . Change in quantity demanded - a movement from one point to another point on the same demand curve that is caused by a change in the price of the good . Own Price: The price of a good. For example, if the price of oranges is $1, this is its own price . Change in demand Shift in demand curve - Increase in demand Rightward shift in the demand curue -Decrease in demand = Left uard 8hift in the demand curve

dow Hel PowerPoint Present....Ch. 10 formulas.pdf PowerPoint Present....X T 4 17 51 3-2 What is Supplyof 3 Supply: The willingness and ability of sellers to produce and offer to sell different quantities of a good at different prices during a specific period - 3-2a The Law of Supply . Law of Supply: As the price of a good rises, the quantity supplied of the good rises, and as the price of a good falls, the quantity supplied of the good falls ceteris paribus PtQ, PL Qs1, ceteris paribus . (Upward-Sloping) Supply Curve: The graphical representation of the law of supply

ow Help PowerPoint Present... Ch. 10 formulas.pdf PowerPoint Present... x 29 51 3-3 The Market: Putting Supply and Demand Together ot . 3-3b The Language of Supply and Demand: A Few Important Terms . Surplus tExcess Supply): A condition in which the quantity supplied is greater than the quantity demanded. Surpluses occur only at prices above the equilibrium price . Shortage (Excess Demand): A condition in which the quantity demanded is greater than the quantity supplied. Shortages occur only at prices below the equilibrium price . Equilibrium Price (Market-Clearing Price): The price at which the quantity demanded of a good equals the quantity supplied 29

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