1. Improvements in qualiyt of medical procedures often mean that cost per unit of output decreases,...
1. Improvements in qualiyt of medical procedures often mean that cost per unit of output decreases, quality of life is impooved; however, totat costs to society increase. This seeming paradox:
A. is due to the law of diminishign marginal returns
B. is due to economies of scale
C. is the result of diseconomies of scale
D. is explained by the fact that more poeple will demand the treatment if it increses life expectancy or quality of life.
Homework Answers
Ans is B
Economies of scale arises when average cost or cost per unit increases when we increase total output.
When quantity and quality both improved, total cost increases but Average cost decreases.
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1. Improvements in qualiyt of medical procedures often mean that
cost per unit of output decreases,...
Improvements in quality of medical procedures often mean that cost per unit of output decreases, quality...
Improvements in quality of medical procedures often mean that cost per unit of output decreases, quality of life is improved; however, total costs to society increase. This seeming paradox: 1: is due to the law of diminishing marginal returns 2: is due to economies of scale 3: is the result of diseconomies of scale 4: is explained by the fact that more people will demand the treatment if it increases life expectancy of quality of life
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Marginal cost is defined as: the change in total costs from producing one more unit of output. the change in fixed cost from producing one more unit of output. total cost divided by total output. total variable cost divided by total output. The marginal cost curve often decreases at first and then starts to increase. This is explained by: the law of diminishing returns. economies of scale. increasing ATC. From the information given in the following table, calculate the marginal...
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please help with a detailed, fully explained answer
for Question 2. thank you
Read the case study below and answer the questions. SHORT RUN STABILIZATION AND LONG RUN COMPETITIVENESS: THE LAVITAN CASE Growth of a young country Latvia - a small, young country on the east coast of the Baltic Sea -has recently earned the title of a "tiger". After gaining its independence from the Soviet Union in 1991, the country embarked upon a challenging road of transitioning from a...
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writ the response in which you state your agreement or disagreement
with writer up un these questions guidelines
1) can empathy lead us astrary? how
2) our heart will always go out to the baby in the well, its a
measure of our humanity. but empathy will have to yield to reason
if humanity is to have a future can empathy yield to reason?
how?
thank you
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