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Why is it important to distinguish among fixed and variable costs?

A patient visits a clinic. She incurs $10 in travel costs and has a copayment of $20. The clinic’s total charge is $60. The clinic spends $9 to bill the insurance company for the visit and uses resources worth $51 to produce the visit. The insurance company pays the clinic $40 and spends $11 to process the claim. Explain the cost of the visit from the perspective of the patient, the insurer, the clinic and society.

Must medical services be free? Justify your answer.

Your hospital is considering opening a satellite urgent care center about five miles from your major campus. You have been charged with gathering demographic information that might affect the demand for the center’s services. What data are probable to be relevant?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91227047

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