General Hospital a notforprofit acute care facilityhas th

General Hospital, a non for profit acute care facility, has the following cost structure for its inpatient services: Fixed Cost $10,000,000 Variable cost per inpatient day $200 Charge (revenue) per inpatient day $1,000 The hospital expects to have a patient load of 15,000 inpatient days next year. a. Construct the hospital’s base case projected P […]

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If a 1 percent tiny increase

If a 1 percent tiny increase in the Price of apples causes 5 percent drop in the quantity demanded (Qd) of apples, then the price elasticity of demand (Ep) is

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If a 10 percent big increase in the Price of heating oil causes

If a 10 percent big increase in the Price of heating oil causes a very tiny 0.1 percent drop in the quantity demanded (Qd) of heating oil in cold winter, then the price elasticity of demand (Ep) is

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Suppose we observe that as firm increases

Suppose we observe that as a firm increases its price its total revenue increases. Which of the following is a possible value of its price elasticity of demand?

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Suppose that a firm incurs a total cost of 950

Suppose that a firm incurs a total cost of $950 when it produces 10 units and a total cost of $1,060 when it produces 11 units. It can be concluded that the marginal cost of producing the eleventh unit i

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If you always buy shrimps regardless of shrimp Price then you have a an demand

If you ‘always’ buy shrimps regardless of shrimp Price, then you have a (an) _____ demand. 

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Suppose we observe that as a fast food restaurant decreases its menu price

Suppose we observe that as a fast food restaurant decreases its menu price, its total revenue increases. Which of the following is a possible value of its price elasticity of demand?

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If both a purely competitive firm and a monopolist with market control have identical costs the monopolist will

If both a purely competitive firm and a monopolist with market control have identical costs, the monopolist will

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The thing that permi

The thing that permits monopolistic competitors to advertise in order to increase demand or to make the demand curve more inelastic is:

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In the short run the additiona

In the short run, the ‘additional’ output that results from hiring an ‘additional unit of a variable input’ is the

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