Question: 1. In the graph below, nurses and doctors are inputs. The graph serves to illustrate the concepts of isocosts and isoquants. Curve R1 includes

1. In the graph below, nurses and doctors are "inputs." The graph serves to illustrate the concepts of isocosts and isoquants. Curve R1 includes points A, B, and C. Curve R2 includes points A", B", and C". (3 points) A R1 R2 Doctors a) At which point on the graph is efficiency of production achieved? b) Why might other combinations be inefficient? c) What do points A", B", and C" illustrate? d) What is the term for the straight line (beginning at point X on the vertical axis and ending at point Y on the horizontal axis)? What does it represent in this graph? Nurses

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