Determine the efficiency of utility model, Marketing Management

Assignment Help:

Use Newhouse (1970) nonprofit hospital's utility model to maximize U(Q, q) where Q=Quantity and q=quality with zero-profit constrain. You may assume there is an inverse demand P(Q).  Add in join production function f(Q,q,K,L)=0 where K=capital and L=labor and the unit price r and w are the competitive prices for capital and labor, respectively. And then, determine whether the hospital is efficient or not.

Note:you may define efficiency first and the conduct the state to answer this question.


Related Discussions:- Determine the efficiency of utility model

Introduction to promotion, Meaning & definition of the promotion: promotio...

Meaning & definition of the promotion: promotion is a communication process by which the producers of the products or services draw attention of the consumers or prospective consu

What is economic utility of marketing, What is economic utility of marketin...

What is economic utility of marketing? Economic Utility of Marketing: The extent to that, a product satisfied customer requirements and wants is called utility. The amount

What you understand by boundary-spanning roles, Question: Consider you ...

Question: Consider you a front-line manager in a hotel. From this perspective, a) Describe the service encounter. b) discuss methods which you would use in the service e

SALES MANAGEMENT, Discuss the basic steps involved in management of the org...

Discuss the basic steps involved in management of the organization''s sales force:setting sales force objectives

Shoppers’ Stop, How are Indian customers visiting Shoppers’ stop any differ...

How are Indian customers visiting Shoppers’ stop any different from customers of developed western countries?

Explain about marketing dynamics, Explain about marketing dynamics. Ma...

Explain about marketing dynamics. Marketing Dynamics: Products and markets are very constantly changing because of technological advancements. Increasingly companies are

The constituents of the marketing communications mix, The constituents of t...

The constituents of the marketing communications mix Business-to-business markets have usually been quite specific in terms of the promotional tools and media used to target

Consumer behaviour, Q. Describe requirement of studying buyer's behavior & ...

Q. Describe requirement of studying buyer's behavior & what  is the influences  of consumer behaviors? Ans.: The study of buyer's behavior is essential to marketing as to w

Marketing organizational and planning, Marketing Organizational Chart ...

Marketing Organizational Chart Marketing Plan Designing a lunchbox menu for Children The marketing plan should consist of expanding opportunities for busines

determine amount of safety stock for company, Forester's Country Markets i...

Forester's Country Markets is a well-known grocery chain based in a large Midwestern city.  At one of Forester's distribution warehouses a key problem has been proper stocking of s

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd