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2 years ago

Medicare covers the cost of care in what countries besides the united states

1 answer:

3 0

Medicare coverage outside the United States is limited. mostly, Medicare won’t pay for health care or supplies you get outside the U.S. The term “outside the U.S.” means anywhere other than the 50 states of the U.S., the District of Columbia, Puerto Rico, the U.S., Guam, American Samoa, and the Northern Mariana Islands, Virgin Islands.

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True/False/Explain – If all production processes were subject to constant returns to scales for all output levels, monopolistic

Elena L [17]

The answer is true okay!

4 0

2 years ago

Mrs. Smith operates a business in a competitive market. The current market price is $8.10. At her profit-maximizing level of pro

Luba_88 [7]

Answer:

Mrs Smith either shut down the business or invest in efficient equipements that lowers the total cost to below $7

Explanation:

The reason is that the you can not make profit if you product is sold in the market at a higher price than the competitor who offers the same product with the same features. So here, Smith can not make profits by selling the product at $8 because here total cost is $8.25 per unit.

So either she should invest in the business equipments which bring efficiencies and keeps the total costs to below $7 or she should shut down her business because the business is turned into loss making machine.

3 0

2 years ago

Your boss, Penny Dirks, has asked you to analyze the airline industry using Porter's Three Generic Strategies. Which of the foll

vodomira [7]

Answer:

The correct answer is A.

Explanation:

Low cost companies, such as Southwest, Horizon, Frontier and JetBlue, are already one of the first options when organizing a trip. Flying is easier and more accessible every day, partly thanks to the low prices that airlines offer us, but also more uncomfortable, so you may ask yourself: what tricks do airlines use to make flying so cheap now?

Point to point routes. Low-cost companies do not offer transshipment services (network), so they save the cost of moving luggage from one plane to another and do not have to worry about the costs of connections between their routes.
Staff costs. When operating point-to-point flights and only short and medium radius, low cost never pay hotels to their crews to spend the night outside the airport where they are destined. Pilots and cabin staff always return to their base. In addition, their salaries are usually lower than those of traditional airline personnel.
Small airports. Operating in small airports and far from the main urban centers allows these airlines to avoid traffic jams, thus saving fuel and time.
Homogeneous fleet. Low cost usually use modern fleets and similar models, allowing them significant savings in maintenance.
Reduced services. These low-cost airlines do not serve meals, cut seat space and eliminate seat allocation, which saves a lot of time, but also money.
Additional income. Most low-cost airlines promote a wide range of gifts and lotteries on board, which gives them significant extra income.
It pays for everything. The reservation of tickets, billing at a counter and the right to carry a suitcase in the hold of the plane is paid with low-cost airlines.
Less expenses at the airport. Many low cost even give up having customer service offices, replacing them with call centers that involve a high cost of calling.
Public incentives. Many public administrations grant great economic aid to these low costs to prevent them from stopping to fly to their airports.
Very high rotation. Companies basically care about two things: get the maximum number of flights and fill the planes to the maximum. A plane is only profitable when it is flying, so more flights, more profitability.

3 0

2 years ago

Gomez runs a small pottery firm. He hires one helper at $14,500 per year, pays annual rent of $7,500 for his shop, and spends $1

uysha [10]

Answer:

a). Accounting profits=$6,000

b). Economic profit=-$6,000

Explanation:

a). The accounting profits for Gomez's pottery firm can be expressed in the form;

Accounting profits-Total monetary revenue-Total monetary expenses

where;

Total monetary revenue=$86,000

Total monetary expenses=excludes opportunity cost=wages+rent+materials+equipment=(14,500+7,500+18,000+40,000)=$80,000

replacing;

Accounting profits=(86,000-80,000)=$6,000

Accounting profits=$6,000

b). Gomez's economic profit

Economic profit=Total revenue-total costs

where;

Total revenue=(86,000+5,000+6,000)=97,000

Total costs includes opportunity cost=(80,000+23,000)=103,000

replacing;

Economic profit=(97,000-103,000)=-$6,000

Economic profit=-$6,000

6 0

3 years ago

Suppose that the USA can make 15,000,000 cars or 20,000,000 bottles of wine with one year's worth of labor. France can make 10,0

Artemon [7]

Answer: The answer is as follows:

Explanation:

From these numbers, we can conclude that USA has a comparative in producing cars and France has a comparative advantage in producing bottles.

Opportunity cost shows that how many units of one good have to be foregone in order to produce one additional unit of other good.

In USA:

Opportunity cost of producing bottles = $\frac{15000000}{20000000}$

= 0.75

Opportunity cost of producing cars = $\frac{20000000}{15000000}$

= 1.33

In France:

Opportunity cost of producing bottles = $\frac{10000000}{18000000}$

= 0.55

Opportunity cost of producing cars = $\frac{18000000}{10000000}$

= 1.8

Above calculations clearly shows that USA has a lower opportunity in producing 1 unit of car as compared to the France, so it has a comparative advantage in producing cars.

Whereas, France has a lower opportunity in producing 1 unit of bottle as compared to the USA, so it has a comparative advantage in producing Bottles.

5 0

3 years ago