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Each dentist also has a cost schedule, as shown below. Quantity of Dental Total Treatments Cost Demanded G $ 250 3 3 5 0 6
Each dentist also has a cost schedule, as shown below. Quantity of Dental Total Treatments Cost Demanded G $ 250 3 3 5 0 6 5 5 0 9 850 1 2 1 , 2 5 0 1 5 1 , 750 1 8 2, 350 a. If each dentist in this system works on a profit- maximizing basis, how many treatments will be provided to both the paying patients and to the federally funded seniors? (Show your work by tabulating appropriate columns for TR and TC, as well as for MR and MC.) 8 marks What would the number of paying patients and federally funded seniors be if the federal funding agency raised its rate to $120 per treatment? (Show all your work.)
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