ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The diagram below shows the
quantity of medical care that can be
produced by several hospitals using
labor (such as doctors and nurses)
Quantity
Q
f(L)
160
5
2
Labor
In the diagram above, which hospitals are technically efficient?
O Hospitals 4 and 5.
Hospitals 1, 2, and 3.
All the hospitals are technically efficient.
None of the hospitals are technical efficient.
L
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Transcribed Image Text:The diagram below shows the quantity of medical care that can be produced by several hospitals using labor (such as doctors and nurses) Quantity Q f(L) 160 5 2 Labor In the diagram above, which hospitals are technically efficient? O Hospitals 4 and 5. Hospitals 1, 2, and 3. All the hospitals are technically efficient. None of the hospitals are technical efficient. L
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