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Imagine you are a hospital manager who is deciding between two different approaches to treat a particular health condition. In the end, you elect to
Imagine you are a hospital manager who is deciding between two different approaches to treat a particular health condition. In the end, you elect to provide Service Package A, which is more expensive but also more effective than Service Package B. You note that the extra money spent on Service Package A is now not available to you to purchase other health services and their associated benefits. This concept in economics is called Question 3 options: a) substitute good b) opportunity cost c) allocative inefficiency
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