Question: Hello, please answer both questions Dr. Arina is the only primary care physician in the countryside of the Adygea Republic with no other primary care
Hello, please answer both questions
Dr. Arina is the only primary care physician in the countryside of the Adygea Republic with no other primary care providers. She charges a different rate to every patient based on the patient's willingness to pay. She is criticized by the local community as being inconsistent, arbitrary, and random. In her defense, her economist sister, Milana, argues that Dr. Arina works very hard and provides the optimal amount of primary care for the people of the countryside of the Adygea Republic. Evaluate Milana's statement. Is it true, false, or uncertain? Explain.
Which of the following statements is incorrect about the short-run cost curves?
a) The marginal cost initially declines
b) Total cost is not equal to zero even when production is ceased.
c) If MC > ATC, increasing production lowers ATC.
d) If MC > ATC, increasing production increases ATC.
e) AFC declines in Q.
Thank you
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
