Question: Instructions: Please make sure that you are using the information from Chapter 1 and other reading materials from Week 1 to complete this assignment. As

Instructions: Please make sure that you are using the information from Chapter 1 and other reading materials from Week 1 to complete this assignment. As per syllabus, the purpose of homework assignments is to evaluate how you apply the theoretical concepts to real world applications. You are expected to provide sufficient information. Your responses MUST demonstrate adequate depth and insights for each question to receive full credit. After reading Chapter 1 and other reading materials, please submit a WORD document responding to the questions below: a) (30 points) Define the following economic concepts and explain why these concepts are important and relevant in health care industry and to the nursing professionals: Opportunity Costs - Trade offs Role of Economic Efficiency Market Structure of Health Care Demand

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