Author Question: If a hospital is experiencing economies of scale, a. its average cost curve is positively sloped as ... (Read 36 times)

EAugust

  • Hero Member
  • *****
  • Posts: 550
If a hospital is experiencing economies of scale,
 a. its average cost curve is positively sloped as output increases.
  b. its average cost curve is negatively sloped as output increases.
  c. it should reduce its output level to lower costs.
  d. quality is falling as output is rising.
  e. both b and c are true.

Question 2

A firm that is maximizing its profits will keep renting machines up to the point where:
 a. the marginal productivity of a capital is maximized.
  b. the marginal value product of machines is maximized.
  c. the marginal value product of machines is equal to the market rental rate for machines.
  d. the machine's market rental rate is minimized.



ecox1012

  • Sr. Member
  • ****
  • Posts: 344
Answer to Question 1

B

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

For a complete list of videos, visit our video library