Physician hours P. Q=1 M Nurse hours N In the diagram above, nurse hours and physician hours are substitutable and demonstrate declining rates of marginal substitution. are not substitutable, meaning nurses and doctors must be used in fixed proportions to each other which represents the mono-technic are neither substitutable or non-substitutable. are substitutable meaning nurses and doctors can be easily interchanged representing the mono-technia view of health care. O O
Physician hours P. Q=1 M Nurse hours N In the diagram above, nurse hours and physician hours are substitutable and demonstrate declining rates of marginal substitution. are not substitutable, meaning nurses and doctors must be used in fixed proportions to each other which represents the mono-technic are neither substitutable or non-substitutable. are substitutable meaning nurses and doctors can be easily interchanged representing the mono-technia view of health care. O O
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Physician
hours
Q=1
Nurse
hours
In the diagram above, nurse hours and physician hours
O are substitutable and demonstrate declining rates of marginal substitution.
O are not substitutable, meaning nurses and doctors must be used in fixed proportions to each other which represents the mono-technic
are neither substitutable or non-substitutable.
are substitutable meaning nurses and doclors can be easily interchanged representing the mono-technic view of health care.
étv](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32dbc9b5-5d5f-41fd-b9d2-ee7793599176%2F138bfa36-5bc9-4017-b0b6-8bb33eecb946%2F5ss99ih_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Physician
hours
Q=1
Nurse
hours
In the diagram above, nurse hours and physician hours
O are substitutable and demonstrate declining rates of marginal substitution.
O are not substitutable, meaning nurses and doctors must be used in fixed proportions to each other which represents the mono-technic
are neither substitutable or non-substitutable.
are substitutable meaning nurses and doclors can be easily interchanged representing the mono-technic view of health care.
étv
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