If a Hospital Is Experiencing Economies of Scale

question 16

Multiple Choice

If a hospital is experiencing economies of scale,

• A) its average cost curve is positively sloped as output increases.
• B) its average cost curve is negatively sloped as output increases.
• C) it should reduce its output level to lower costs.
• D) quality is falling as output is rising.
• E) both b and c are true.

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Definitions:

Marketing Research

Marketing research involves the systematic gathering, recording, and analyzing of data about issues relating to marketing products and services.

Market Research Activities

Comprise various tasks and processes used to gather, analyze, and interpret data about a market, including customer preferences, competition, and trends.

Marketing Research Process

A systematic series of steps to identify and solve marketing problems through the use of scientific research methodologies.

Strategic Planning

A systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.