Suppose that hospitals use nurses (N) doctors (D) to perform surgeries (Q). The production function Show more Suppose that hospitals use nurses (N) doctors (D) to perform surgeries (Q). The production function for surgeries is: Q = F(N;D) where F(N;D) is some function that increases in N and D.
Suppose that hospitals use nurses (N) doctors (D) to perform surgeries (Q). The production function Show more Suppose that hospitals use nurses (N) doctors (D) to perform surgeries (Q). The production function for surgeries is: Q = F(N;D) where F(N;D) is some function that increases in N and D.
Assume that the marginal products of N and D are diminishing. (a) Suppose that hospitals start buying surgical robots that can perform the same surgical tasks as a nurse. Using a diagram show the effect of this form of technological progress on the isoquant for surgeries. Assume now that the production function for surgeries is Q = F(R;N;D) where R is the number of surgical robots. Assume that because of a supply shortage a hospital can only hire one doctor for the time being. Therefore Q = F(R;N;1) = F(R;N). Show less
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