# Solution-Behavioral economics discussions often start from | Homework Help

Health Economics

1. Behavioral economics discussions often start from the observation that in many circumstances people are “consistently irrational”. This implies that-

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2. One of the reasons why physicians earn more money per hour than nurses is:

3. The dominant objective of taxi drivers in the city of Cola is to earn a target income of \$60,000.00 per

4. Cost of producing physician consultant service is given by the equation: C = 40000 + 15Q, where C is the cost per year and Q is the number of consultations supplied in a year. If Q = 2000 for a physician, the average and marginal cost at Q = 2000 should be-

5. We have \$35 to allocate between two projects. Benefits and costs of the projects are shown in the table below by levels of costs or expenditures in the projects. How would you allocate \$35 between these two projects to maximize total benefits.

6. If adopted, child immunization project will prevent 100 deaths this year. Another project intended to improve nutritional status of children will prevent 110 deaths three years from now. In terms of health outcome (deaths prevented), which project is better from the societal perspective if the rate of discount or the “time-tradeoff” is 10%?

7. Fixed cost of hospitals is usually a large proportion of the total cost. In other words, the variable cost represents a relatively small part of total cost. When the fixed costs are very high compared to variable costs, the average total cost curve

8. For a profit maximizing firm (hospital or clinic or any other facility), supply curve is the-

9. Consider the price of three items in 2000 and 2014 as shown in the table below:

10. National Health Expenditure (NHE) in USA in 1980 was \$256 billion and in 2013 it was \$2.92 trillion. Price index was 44.38 in 1980 and 106.73 in 2013 when 2009 prices are used as base. Real NHE of USA in 1980 in term of 2013 prices were about-

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