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| Topic: |
Miscellaneous
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| Number of pages / Number of words: |
15 / 4195 |
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Power and Associates, 2006, p. 1). Results of Sanford's patient satisfaction surveys are generally above the national average. Sanford employees know that if patients are not satisfied with their care or stay, there are hospitals in the area that the patient can choose from in the future. Patient choosing another hospital can lead to declining admissions, decrease in the quantity demanded, and therefore, loss income of the hospital...
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Patient choosing another hospital can lead to declining admissions, decrease in the quantity demanded, and therefore, loss income of the hospital.
The Law of Diminishing Marginal Utility
The law of diminishing marginal utility states that, as consumption of a good and service increases, the marginal utility, or extra satisfaction received for each additional unit will decrease...
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