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AssignmentDemand and the demand curve reflect the quantity demanded of a good or service that will be purchased at different price points when all other factors are held constant (Lee, 2015). This is an important concept for managers to master, since it may significantly influence financial and operational decision-making. For example, when performing a capital budgeting analysis, we attempt to forecast consumer demand in the event a project is accepted for funding. We can use demand theory to anticipate the effect of policy changes, such as the passage of the Patient Protection and Affordable Care Act of 2010, HIGHTECH act of 2009, and other state level policies and laws. As important as understanding demand is the need for healthcare managers and leaders to understand the practical applications associated with elasticity and how they are used to describe economic data; prepare forecasts, determine if certain services are substitutes or complements for other services, and figure out just how sensitive consumers are when it comes to quantity demanded based on price and income. In order to support your understanding of costs and the approaches being employed to bend the cost curve, you will be expected to complete the following end-of-chapter problems and mini-case: Chapter 7: 7.3, 7.11 (graph to be prepared using Excel), and 7.12 (pp. 122-123; Lee textbook); Case 7.1, MinuteClinic (p.117, Lee textbook) Unit Learning OutcomesULO 1. Evaluate the importance of demand in management decision-making. (CLO 1, 6, and 7) DirectionsThe students are expected to carefully read the assignment instructions, then thoroughly and explicitly address each question. Microsoft Excel will be used to perform the mathematical computations and graphs; however, the problems and their corresponding responses should be written up in a Microsoft Word document. Your responses to the assigned mini-case study should also be included in the same document. IMPORTANT: Make certain that there is a detailed description of how the calculations were performed. You will also need to include an interpretation of the results. While there is no minimum number of references that need to be utilized to support the completion of this assignment, it is generally understood that outside sources, including the text, will be necessary to complete the problems. The document must adhere to the APA writing style in terms of using in-text citations and the listing of sources on the references page. The Microsoft Word document and Excel spreadsheet are to be uploaded under the correct unit assignment pag https://bookshelf.vitalsource. copy the URL and user name is mendozamariana79@gmail.com Password Briana!98 you will need the book for questions here is how to get access please let me know if you need anything else |
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