Economics of health care

rite an answer of no less than one-half page in length for each of the first four questions below about economic concepts described in chapters 6 and 7 of the text,Economics of Health and Medical Care. Calculate and fill in the blanks for the table in question 5.

1.      Explain the difference between explicit and implicit costs of production.

2.      Explain the reasoning behind the U-shaped, long-run, average cost curve.

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

3.      Explain the law of diminishing marginal returns.

4.      Describe economies and diseconomies of scale.

5.      Given the following data, calculate the total fixed total variable and marginal costs at each level of production.




Total Cost

Total Fixed Cost

Total Variable Cost

Average Total Cost

Marginal Cost
































APA format is not required, but solid academic writing is expected.

This assignment uses a grading rubric. Instructors will be using the rubric to grade the assignment; therefore, students should review the rubric prior to beginning the assignment to become familiar with the assignment criteria and expectations for successful completion of the assignment.

You are not required to submit this assignment to Turnitin, unless otherwise directed by your instructor. If so directed, refer to the Student Success Center for directions. Only Word documents can be submitted to Turnitin.

Mathematics homework help