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3. Over the past 30 years, the total number of U.S. hospitals has declined from 7,000 to around 5,500 while the total number of commissioned

3. Over the past 30 years, the total number of U.S. hospitals has declined from 7,000 to around 5,500 while the total number of commissioned beds has declined by more than 30%. Using the theory of producer supply as a guide, provide at least three (3) possible market explanations for this apparent supply reduction phenomenon

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