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MPH 657 mod 5 solutions

Phelps pg 167 3 the increasing costs of medical care

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Unformatted text preview: nds on acceptance to varying programs and willingness to). Finally, once working, physicians work longer hours than the average worker. The adjusted internal rate of return (IRR) is a good measure return to being a physician (adjusted meaning adjusted for hours). “If I put the same amount of money into bank account as in this investment, what rate of return would the bank have to pay to make me indifferent in choosing between the bank account and alternative investment.” (Phelps, pg. 167) 3. “The increasing costs of medical care can all be directly attributed to increased medical malpractice insurance costs.” Comment. (Phelps, problem 5, pg. 174) Not necessarily. See Box 6.1. 4. When on thinks about economies of scale, one might conclude that physician firms should be very large. What economic forces outside the physicians- firms might cause them to...
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