Since I'm not a doctor, I can only provide you with this information from Lab Tests Online.
Also, to determine which is deficient, other tests need to be ordered. You should discuss your results with your doctor.
Here is the information I found:
Below-normal hemoglobin levels may lead to anemia that can be the result of:
• iron deficiency or other deficiencies, such as B12 and folate,
• inherited hemoglobin defects, such as sickle cell anemia or thalassemias,
• other inherited conditions, such as enzyme defects,
• cirrhosis of the liver,
• excessive bleeding,
• excessive destruction of red blood cells,
• kidney disease,
• other chronic illnesses,
• bone marrow failure or aplastic anemia, or
• cancers that affect the bone marrow.
MCV – Mean Corpuscular Volume
Increased with B12 and Folate deficiency; decreased with iron deficiency and thalassemia
AST Also known as: Serum glutamic-oxaloacetic transaminase, SGOT
Very high levels of AST (more than 10 times the highest normal level) are usually due to acute hepatitis, often due to a virus infection. In acute hepatitis, AST levels usually stay high for about 1–2 months, but can take as long as 3–6 months to return to normal. In chronic hepatitis, AST levels are usually not as high, often less than 4 times the highest normal level. In chronic hepatitis, AST often varies between normal and slightly increased, so doctors typically will order the test frequently to determine the pattern.
In some diseases of the liver, especially when the bile ducts are blocked, or with cirrhosis and certain cancers of the liver, AST may be close to normal, but it increases more often than ALT. When liver damage is due to alcohol, AST often increases much more than ALT (this is a pattern seen with few other liver diseases). AST is also increased after heart attacks and with muscle injury, usually to a much greater degree than is ALT.
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