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Suppose that hospitals use nurses (N), doctors (D) to perform surgeries (Q). The production function for surgeries is: Q = F(N;D), where F(N;D) is some function that increases in N and D. Assume that the marginal products of N and D are diminishing

Suppose that, in the short run, a hospital hires only robots (in addition to the one doctor). What is the underlying short-run production technology? What does the hospital’s choice imply about the relative marginal products of nurses and robots?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91298263

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