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Explain clearly QUESTION 13 A study published in Social Science Medicine, Production Functions for General Hospitals, estimated the following general hospital production function: Q =

Explain clearly

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QUESTION 13 A study published in Social Science Medicine, "Production Functions for General Hospitals," estimated the following general hospital production function: Q = 5*Staff 3#*Beds.04*Drugs.04+Specialits.02, where Q is a measure used by the authors for patient care. If we increase all inputs by 19%, the percentage change in Q will be: O A. 5.0 O B. 1.04. O C. 3.3. O D..2. QUESTION 14 A study published in Social Science Medicine, "Production Functions for General Hospitals," estimated the following general hospital production function: Q = 5*Staff #4*Beds 04*Drugs.04*Specialists.02, where Q is a measure used by the authors for patient care. Hospital Management has set a target of Q = 50. Suppose input prices are Pstaff = 10, Pbeds = 2, Pdrugs = 15, Pspecialists = 20. Use Excel Solver to find the following: How many Staff and Specialists should Hospital Management employ to produce Q = 50 and minimize cost of production for that output? O A. 14.71; 2.34. O B. 2.72; .08. O C. 31.36; 5.21. O D. .21.45; 1.22. O E. 18.69; 3.23

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