Figure 2-13
Total Lives Saved
$$\begin{array} { | c | c | c | }
\hline \text { Dollars Invested in Pracedhe } & \text { Procechure 1 } & \text { Pracechure 2 } \
\hline \$ 1,000,000 & 100 & 20 \
\hline \$ 2,000,000 & 150 & 29 \
\hline \$ 3,000,000 & 175 & 37 \
\hline \$ 4,000,000 & 190 & 42 \
\hline \$ 5,000,000 & 192 & 43 \
\hline
\end{array}$$
-Referring to Figure 2-13,if you had to choose how to allocated $5 million and your objective was to save the most lives,you would observe that there is

Question

Figure 2-13
Total Lives Saved
 $$\begin{array} { | c | c | c | } 
\hline \text { Dollars Invested in Pracedhe } & \text { Procechure 1 } & \text { Pracechure 2 } \
\hline \$ 1,000,000 & 100 & 20 \
\hline \$ 2,000,000 & 150 & 29 \
\hline \$ 3,000,000 & 175 & 37 \
\hline \$ 4,000,000 & 190 & 42 \
\hline \$ 5,000,000 & 192 & 43 \
\hline
\end{array}$$
-Referring to Figure 2-13,if you had to choose how to allocated $5 million and your objective was to save the most lives,you would observe that there is

Quizplus · Accepted Answer

As the amount invested increases, the number of lives saved by Procedure 1 increases at a decreasing rate, while the number of lives saved by Procedure 2 increases at an increasing rate. This indicates that there is an increasing opportunity cost between procedures. Therefore, allocating the full $5 million to Procedure 1 may not be as effective in saving lives as dividing the investment between both procedures.

Figure 2-13 Total Lives Saved -Referring to Figure 2-13,if You Had to Choose How to c

Figure 2-13
Total Lives Saved -Referring to Figure 2-13,if You Had to Choose How to c