Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hello, please answer both questions Dr. Arina is the only primary care physician in the countryside of the Adygea Republic with no other primary care

Hello, please answer both questions

Dr. Arina is the only primary care physician in the countryside of the Adygea Republic with no other primary care providers. She charges a different rate to every patient based on the patient's willingness to pay. She is criticized by the local community as being inconsistent, arbitrary, and random. In her defense, her economist sister, Milana, argues that Dr. Arina works very hard and provides the optimal amount of primary care for the people of the countryside of the Adygea Republic. Evaluate Milana's statement. Is it true, false, or uncertain? Explain.

Which of the following statements is incorrect about the short-run cost curves?

a) The marginal cost initially declines

b) Total cost is not equal to zero even when production is ceased.

c) If MC > ATC, increasing production lowers ATC.

d) If MC > ATC, increasing production increases ATC.

e) AFC declines in Q.

Thank you

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Commanding Heights The Battle For The World Economy

Authors: Daniel Yergin, Joseph Stanislaw

1st Edition

068483569X, 9780684835693

More Books

Students also viewed these Economics questions

Question

Why are so many people afraid of communication?

Answered: 1 week ago