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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.
Explain about the increased benefits by retaining customers of a firm. Increased Revenue: When a customer stays along with a company for longer time, the possibilities of
Meaning of price: Price is the marketing mix element that product revenue, the other producer costs. Price is also one of the most flexible elements: it can be changed quickly
Explain about the numbers of features in marketing offer more customers. While the number of features into a marketing offer is more the customer feels which the marketer has o
1. Consider an economy in which George and Harriet consume only ale and bread. Georgeís utility function is UG = aG(bG 1) where aG and bG are his consumption of ale and bread
#consumer mind is a block box discuss?
What are the ways of foreign market entry? The prospective global marketer has decided onto a market entry strategy and a marketing mix. Such are two main methods of foreign ma
design marketing mix for product fash wash
State about the marketing mix Marketing comprise a number of activities. To start with, an organisation may decide on its target group of customers to be served. Once the tar
Brand equity: to understand the dynamics of brand, Aaker provides a framework called equity. Brand equity refers to a "set of assets and liabilities of a brand, its name and symbo
State about the term - Advertising Advertising is the most usually used tool for informing the present and prospective consumers about the product, its quality, availabilit
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