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Economic Concepts Paper
Descriiption
Provide a 3–5 page summary that discusses the following concepts (be sure to include definitions and examples of each):
The concepts of utility and elasticity in healthcare;
Shifters that may affect the supply and demand relationship in health care;
How economies of scale affect profit maximization in health care; and
Discuss the relationship between supply and demand in today’s competitive healthcare markets as well as the factors that may influence this relationship. Include examples to demonstrate how the concepts above are used to evaluate financial viability in a healthcare organization.
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