a. Why is inefficiency and maximizing profit common in healthcare? Doesn’t competition and efforts to maximize profit force organizations to be efficient?
Healthcare is the largest service industry. Inefficiency lies as there is a lack of training on how to handle the health related issues.
Setting up Patients visit , making reminder phone call to patients , asking doctors to counsel patients and punishing repeat offenders etc leads to inefficiency .
Lack from availing proper services with in the time line or continuity of healthcare policy takes place and thus in a way maximises profit as the payment made and the service has not been taken on a precautionary basis.4
Yes , Competition efforts to maximize profit force organisations to be efficient as Customers will oblige or take services only from those organisations which render six sigma services to its customers.
Thus only efficiency of an organisation can entail good and repeat business to such organisation to lead and operate in the Health care segment .
a. Why is inefficiency and maximizing profit common in healthcare? Doesn’t competition and efforts to maximize...
why is inefficiency common in healthcare?
Does competition force organizations like hospitals to be efficient? Why or why not?
“The main reason why inefficiency occurs is profit. Perfectly competitive firms are efficient because they are making zero profit in the long run. If the government can impose regulation to make a monopolist earns zero profit, the monopolist can also be efficient”. Discuss the validity of this statement with suitable diagrams for a perfectly competitive firm and a monopolist.
What is the principal-agent problem? How does it relate to X-inefficiency? Why is X-inefficiency more likely to occur in oligopoly and pure monopoly than in pure competition and monopolistic competition? Do you think X-inefficiency is a growing problem in the economy? Explain your reasoning.
(Market Structures – Perfect Competition)
Refer to the graph above. To maximize profit, this perfectly
competitive firm should produce:
marginal cost Price, cost - demand $3.00 $2.00 $0.00 L 0 10 20 30 40 50 60 70 Quantity (Market Structures - Perfect Competition) Refer to the graph above. To maximize profit, this perfectly competitive firm should produce:
Show and explain why profits go to zero in the long run under monopolistic competition. Hint: Start with a firm making profit and then explain what happens next. Explain why economists consider monopolistic competition inefficient. What are the benefits of allowing this inefficiency?
Show and explain why profits go to zero in the long run under monopolistic competition. Hint: Start with a firm making profit and then explain what happens next. Explain why economists consider monopolistic competition inefficient. What are...
In perfect competition as well as in monopolistic competition, a. profit is positive in a long-run equilibrium for each firm. b.entry and exit by firms are restricted. c. there are many firms in a single market. d. marginal revenue is equal to price for each firm. ECTION 22 Monopolistic competition differs from perfect competition because in monopolistically competitive markets a. all firms can eventually earn economic profits. b. each of the sellers offers a somewhat different product. C. strategic interactions...
explain why maximizing profit falls short of maximizing shareholders wealth
maximizing profit is 100 and this is at perfect competition
market. there is no average cost curve in this graph and find the
profit.
20MC=MC%20graph (1) BR 审阅 视图 帮助 Aa AnA AaBbCcDd AaBbCcDd AaBbCc AaBbCcD 无间隔 AA 正文 1 标题2 段落 样式 1- Profit at quantity 12 2- Profit at quantity 10 Profit at quantity 9 3- Profit at quantity 8 4- 5- Profit at quantity 7 OP 13 MR 3 9 lo 12 能:调查 DELL
How does the role of nonprofit healthcare organizations differ from that of for-profit healthcare organizations? Which entity is better suited to meet the growing demand for health services by the aging population, and why?