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Suppose that with 400 patients per year, the SAFC, SATC and SMC of operating a physician clinic are $10, $35, and $30 per patient, respectively. Furthermore, suppose the physician decides to increase the annual patient load by one more patient. Using short-run cost theory, describe the impact of this additional patient on the SAVC and SATC. Do they increase or decrease? Why?

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M946945

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