At the point the social cost [s1] is not taken into account only the private cost is. They are only thinking of their profits. However, if a good is to be taxed, it would increase the prices of the good for the consumers, which would mean p increases to p1 and as a result d shifts to d1 to the left. The demand is decreased. (diagram showing this- didn’t do it on word) On the contrary, if goods such as cigarettes have been taxed and prices increase, the demand would not have been affected by a great load, this is due
Professor Jones English 1301 9 September 2012 In their article, “Ounces of prevention—The Public Policy Case for Taxes on Sugared Beverages”, Kelly Brownell and Thomas Frieden argue that since excess consumption of unhealthy foods and beverages are the underlying cause of death, food taxes at the local, state, and national levels are likely to remain part of political and public health discourse. Since sugared-sweetened beverages are becoming increasingly affordable, children and adolescents are more likely to consume them, thus leading them to obesity and /or diabetes at a young age. In the past ten years, it has been discovered that the likelihood of a child or adolescent becoming obese from just one extra can or glass of a sugared beverage
The higher premiums have to be considered first because it affects the customer pool. Increasing premiums might possibly decrease the customer pool by eliminating customers with better health because younger people wish to pay less. When a group is considering on increasing benefits will also decrease profit margin. The profits per policy are profits equals premium minus the probability of illness times the number of individuals that are ill. Feuerman’s new plan of the Caster Enhanced Minor plan, the probability of illness can be eliminated by taking away the high cost of health care
C) If the AMA announces that drinking orange juice can reduce the risk of heart attacks then this could cause a huge increase in demands and could also lead an increase in price or price could stay neutral temporarily but the supply would decrease the price later on the line. D) Knowing that the price of grape fruit falls then it means there has not been a high demand for the grape fruit. So therefore lowering the
First the pro side, the first main issue is the fact that the 32 million Americans that don’t have health care will now have access to health care coverage. Many Americans can’t afford health care coverage and this policy lowers the cost so that more Americans will have the opportunity to get the coverage they need. Another pro is that people with preexisting conditions can no longer be denied coverage. Insurance companies have been getting away with denying people the coverage they need because they either get sick or because they have a preexisting condition and this policy puts an end to all of that. Lastly, the amount of personal bankruptcies will be reduced.
Due to this, cigarette manufacturers can raise the price of cigarettes to cover the lost wages due to the law suits. By increasing costs, they increase revenue, and the millions in law-suits do not affect them. They could evaluate their supply and decrease the supply (if in any way possible) which will lower the internal manufacturing costs, while still raising the revenue. This could prove to have a huge payout in the end. If this were done, the market equilibrium
Teenage Drinking Raising the drinking age to 25 years old will prevent teenage drinking. “The strongest evidence for reducing alcohol-related harm is by increasing the price and reducing the availability”(Raising legal). Alcohol is a dangerous drug that causes accidents and deaths every year. Every year there are records of driving while intoxicated for under age drinkers. So raising the age of which you can consume alcohol will result in less accidents and deaths caused by drinking.
Marijuana should be legalized it will not only benefit the well being of sick patients but also it will help economic needs of this country and also decline in crime will be apparent. The war on this specific drug is a failure
Bill S.348 and bill H.R.486 would benefit all parties involved economically in the long run. If laws are put in place to increase educational demands and monitoring of medication history it will lead to the decrease of this type of drug abuse (www.ncsl.org). Patients inability to “doctor shop” will allow for less prescribing which will decrease street selling and crime related costs. According to Pisgah Laboratories in North Carolina, adding drug deterrent technology will increase the federal budget by about $200 billion overall (www.pigsahlabs.com). Cons: It will cost the federal government more money now due to having to pay out grants, as well as the pharmaceutical companies due to having to add drug deterrent ingredients to medications
If the LEDC had the high enough levels of development it could educate it population and these profit providing process could be taxed and boost the economy of the LDC to allow such infrastructure to grow. With low levels of infrastructure health care is not as available as in MEDC nations. This causes LDC nations to have lower life expectancies and be less productive due to being ill. In Sierra Leone high levels of AIDS/ HIV, approximately 49,000, and outbreaks such as the deadly Ebola Virus means little taxes can be taken as unemployment is high. As a consequence many LDC nations rely on foreign health and economic aid putting them in a situation of unrepayable debt, so even less money can be spent on infrastructure and supporting the economy.