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Under the following conditions, what are the equilibrium price and quantity of health care goods? There are many health care patients but only one private for-profit hospital. Calculate the consumer surplus, producer surplus, total costs of care and dead weight loss. What are the implications of this model, compared to the model in the technical question 1?
Demand Curve P = 24 - 2Q
Marginal Revenue Curve P = 24 - 4Q
Marginal Cost Curve P = 2Q
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