HCA 403 California National University Introduction to Health Economics Discussion
Question Description
Im working on a health & medical question and need an explanation and answer to help me learn.
During the last five years, average daily occupancy at Autumn Acres nursing home has slid from 125 to 95 even though Autumn Acres has cut its daily rate from $125 to $115.
Does this information suggest that occupancy would have been higher if Autumn Acres had raised its rates?
What changes in non-price demand factors might explain this change?
Note: The supply, or the number of nursing home beds in the area, has not changed during this period.
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