Category: Economics
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 […]
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
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
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?
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?
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
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.Â
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
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:
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