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HMGT 3320- EXAM WITH QUESTIONS AND ACTUAL ANSWERS $7.99   Add to cart

Exam (elaborations)

HMGT 3320- EXAM WITH QUESTIONS AND ACTUAL ANSWERS

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  • Course
  • HMGT 3320-
  • Institution
  • HMGT 3320-

HMGT 3320- EXAM WITH QUESTIONS AND ACTUAL ANSWERS

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  • September 14, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • HMGT 3320-
  • HMGT 3320-
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MREXAMS
HMGT 3320- EXAM WITH QUESTIONS
AND ACTUAL ANSWERS

{this isn’t what you needed email}
T/F: The marginal rate of substitution reflects how much
input A will need to be increased to offset a decrease in a
unit of input B - ANSWER>>>>>True

T/F: Technology is a way of transforming inputs into outputs.
- ANSWER>>>>>True

A normal return on investment associated with the risk taken
is called - ANSWER>>>>>normal profit

T/F: The total cost curve is the vertical sum of the two curves
total variable cost and total fixed cost. - ANSWER>>>>>True

T/F: The production function gets flatter as total production
decreases - ANSWER>>>>>False

The savings derived from producing different products
jointly/simultaneously in the same production unit is called -
ANSWER>>>>>economies of scope

T/F: Only finished goods and services are considered to be
outputs - ANSWER>>>>>False

Total costs divided by total output is a measure of -
ANSWER>>>>>average costs

, HMGT 3320- EXAM WITH QUESTIONS
AND ACTUAL ANSWERS

{this isn’t what you needed email}
The additional production yielded by the use of one extra
unit of variable input is called - ANSWER>>>>>the marginal
product

T/F: Opportunity cost reflects the value of the next highest-
value use that must be foregone when resources are used to
undertake the selected activity - ANSWER>>>>>True

T/F: Total fixed costs plotted on a graph is represented by an
upward sloping line - ANSWER>>>>>False

The critical price below which the firm will shut down
depends on which costs of the firm? - ANSWER>>>>>variable
costs

A change in the following factor will cause a movement along
a given supply curve - ANSWER>>>>>price

T/F: Generally, markups (charge-to-cost ratios) for ancillary
services were found to be lower that basic room charge in
hospitals - ANSWER>>>>>False

Members of the management triangle include -
ANSWER>>>>>Administrators, hospital trustees, and
physicians (ALL OF THESE ANSWERS)

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