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1. Two doctors agree that hospitals are often monopolies, overpriced and inefficient. a In what ways might hospitals be inefficient? b Dr. A suggests the
1. Two doctors agree that hospitals are often monopolies, overpriced and inefficient.
a In what ways might hospitals be inefficient?
b Dr. A suggests the state should set P=AC. What might be gained?
Does AC shape matter?
c What are the disadvantages of Dr. A's policy? Does AC shape matter?
d Dr. M suggests the state should set P=MC. What might be gained?
Does AC shape matter?
e What are the disadvantages of Dr. M's policy? Does AC shape matter?
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