Health care Economics

posted by .

4. The following is a cost function for clinic visits in a small inner city clinic.
Quantity of Visits Total Costs per Week Marginal cost
0 $10 0
1 15 5
2 25 10
3 45 20
4 75 30
5 115 40
6 165 50

a. Determine the marginal cost for each level of output
b. If the price per visit is given to be $25, at what level of visits will the maximum profit position be? What are the profits at this level? What is the quantity supplied
Quantity of Visits Price per visits Total costs per week Marginal cost
0 $25 10 250
1 $25 15 5
2 $25 25 10
3 $25 45 20
4 $25 75 30
5 $25 115 40
6 $25 165 50

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Question on budget

    How can I turn this into a line-item budget for personnel cost, a functional budget to calculate personnel costs per MRI procedures, and also a program (clinic) budget for providing health care services for 3000 patient visits?
  2. Economics

    The Qwik Serve Clinic always has three M.D.s and eight R.N.s working at its 24-hour clinic, which serves customers with minor emergencies and ailments. The clinic has hired an efficiency expert to examine its operations and make suggestions …
  3. Healthcare Finance

    You are considering starting a walk-in clinic. Your financial projections for the first year of operations are as follows: Revenues (10,000 visits) $400,000 Wages and benefits 220,000 Rent 5,000 Depreciation 30,000 Utilities 2,500 …
  4. Healthcare Finances

    You are considering starting a walk-in clinic. Your financial projections for the first year of operations are as follow: Revenues (10,000 visit) $400,000 Wages and benefits $220,000 Rent $5,000 Depreciation $30,000 Utilities $2,500 …
  5. Economics

    The following is a cost function for clinic visits in a small inner city clinic: a.Determine the marginal cost for each level of output. b.If the price per visit is given to be $25, at what level of visits will the maximum profit position …
  6. economics

    he following is a cost function for clinic visits in a small inner city clinic: Quantity of Visits Total Cost per Week 0 $10 1 15 2 25 3 45 4 75 5 115 6 165 If the price per visit is given to be $25, at what level of visits will the …
  7. Healthcare Finance

    You are considering starting a walk-in clinic. Your financial projections for the first year of operations are as follows: Revenues (10,000 visits) $400,000 Wages and benefits 220,000 Rent 5,000 Depreciation 30,000 Utilities 2,500 …
  8. Healthcare finance

    You are considering starting a walk-in clinic. Your financial projections for the first year of operations are as follows: Revenues (10,000 visits) $400,000 Wages and benefits 220,000 Rent 5,000 Depreciation 30,000 Utilities 2,500 …
  9. Math

    Pearland Medical Center owns a small satellite clinic, specializing in General Practice, located at nearby Pearland airport. General Practice Clinic’s sole payor is Air Health, a health care plan that covers the airport employee …
  10. math/economics in calculus

    The average cost of manufacturing a quantity q of a good, is defined to be a(q) = C(q)/q. The average cost per item to produce q items is given by a(q) = 0.01q2 − 0.6q + 13, for q >0. I know that the total cost is 0.01q^3-0.6q^2+13q …

More Similar Questions