In this assignment, you are presented with a chart representing the number of nurses, number of patient visits associated the number of nurses available, and the MPL of each additional nurse hired. You will calculate missing information and use the data to assess the clinic’s inputs, outputs, and point of diminishing return. You will use this assessment to provide recommendations to the clinic in terms of how many nurses to hire to ensure maximum productivity.
Complete a chart representing the number of nurses, number of patient visits associated the number of nurses available, and the MPL of each additional nurse hired.
Describe the relationship between the number of nurses hired and clinic visits (output).
Identify the number of nurses where the point of diminishing returns occurs.
Use the data to provide recommendations to the clinic in terms of the productivity of the nurses hired and how this can be increased.
Submission
Submit your file using the following naming convention: Last name_First name_Assignment_2.1.
This week, the focus is on the healthcare provider. Healthcare providers need resources to deliver a treatment or procedure. The
ECO 605 Assignment 2.2 Production Costs
purchase of these resources represents costs for healthcare providers. We will examine the relationship between the output of healthcare providers and the costs incurred to produce these services.
Review a list of all items due this week in your course’s syllabus.
This lesson will describe the production function for a good or service and will describe how a production function gives the relationship between inputs and outputs.
Learning Outcomes
By the end of this lesson, you will be able to:
Define the terms fixed input, variable input, and production function.
Identify fixed and variable inputs in the medical field.
Identify factors that shift a production function.
Determine how a production function shows the relationship between inputs and outputs.
Before attempting to complete your learning activities for this week, review the following learning materials:
Learning Materials
Read the following in your Economics of Health and Medical Care textbook:
Chapter 5, “Health Care Production and Costs” (pp. 71–77)
These pages provide additional references to the production function and other issues related to it.
Assignment Rubric
Criteria
Ratings
Pts
Responses
5 to >4 pts
Meets Expectations
Answers to all questions are correct. Graphs are all properly labeled and axes all properly identified. All graphs are properly drawn. (If applicable.)
4 to >2 pts
Nearly Meets Expectations
Answers to most questions are correct. Graphs are mainly labeled correctly and axes are usually properly identified. (If applicable.)
2 to >0 pts
Does Not Meet Expectations
Answers to most questions are incorrect. Graphs are not labeled or axes are not properly identified. Graphs are not drawn properly. (If applicable.)
/ 5 pts
Explanations
5 to >4 pts
Meets Expectations
Provides thorough explanation of rationales and skillfully applies course materials to develop conclusions. There is always a close and strong connection between the explanations provided and the material from the lessons.
4 to >2 pts
Nearly Meets Expectations
Provides adequate explanation of rationales, but conclusions could be supported more strongly using course materials. There is a connection between explanations and concepts from the lessons but this connection is not always strong or clear.
2 to >0 pts
Does Not Meet Expectations
Neither provides adequate explanation of rationales nor uses available resources to substantiate conclusions. There is no close connection between the explanations provided and the concepts given in the lessons.
/ 5 pts
Structure and Mechanics
5 to >4 pts
Meets Expectations
Contains one or two errors in grammar, spelling, and/or APA format.
4 to >2 pts
Nearly Meets Expectations
Contains several errors in grammar, spelling, and/or APA format.
2 to >0 pts
Does Not Meet Expectations
Contains many errors in grammar, spelling, and APA format.
