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Product supplied by a hospital organization

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What is the service or product supplied by a hospital organization? If there are more than one, pick one. What is the market structure for the market in which this firm supplies this product? Why? What does economic theory tell you about the short-run and long-run economic profits for a firm operating in this market structure? Who observes this for the hospital? Why or why not?

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The solution addresses what is the service or product supplied by a hospital organization? If there are more than one, pick one. What is the market structure for the market in which this firm supplies this product? Why? What does economic theory tell you about the short-run and long-run economic profits for a firm operating in this market structure? Who observes this for the hospital? Why or why not?

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What is the service or product supplied by a hospital organization? The service is health and wellness.

What is the market structure for the market in which this firm supplies this product? Why?
This depends on whether the hospital is for profit or not for profit. "Because each hospital's type of ownership is endogenous, determining whether it is the presence of for-profit hospitals or some other factor that drives any observable difference in not-for-profit behavior or market outcomes presents a difficult identification problem. (1) The very factors that cause for-profit firms to enter particular markets may simultaneously lead other hospitals to behave differently from hospitals of the same ownership type in markets with correspondingly few for-profit hospitals." ...

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