Please refer to the table below. This table contains ball-park figures for the p
ID: 1211813 • Letter: P
Question
Please refer to the table below. This table contains ball-park figures for the population in the U.S., the number of physicians as well as health expenditure from 1970 through 2010. Use the figures in this table to compute the average and marginal expenditures for the U.S. population as well as physicians for this data. What patterns emerge from your computation of these average and marginal expenditures?
1970
1980
1990
2000
2010
U.S. Population
200,000,000
225,000,000
250,000,000
280,000,000
310,000,000
Number of Physicians
300,000
450,000
600,000
800,000
1,000,000
Health Expenditure
($ billions)
75
250
700
1,400
2,500
1970
1980
1990
2000
2010
U.S. Population
200,000,000
225,000,000
250,000,000
280,000,000
310,000,000
Number of Physicians
300,000
450,000
600,000
800,000
1,000,000
Health Expenditure
($ billions)
75
250
700
1,400
2,500
Explanation / Answer
Spending has been on an increasing trend and marginal expenditures are also on increasing trend.
Population 200 225 250 280 310 Spending 75000 250000 700000 1400000 2500000 Average 375 1111 2800 5000 8065 Marginal 7000 18000 23333 36667Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.