Which of the following is not a reason for the existence of imperfect competition in health care markets?

a. easy entry into industry
b. restrictions on advertising
c. economies of scale
d. collusion


a

Economics

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A market in which there is only one seller, and there is no close substitute for the product being sold, is called

A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.

Economics

The above figure shows Jane's budget line and two of her indifference curves. How many steak dinners will Jane purchase each month?

A) 4 steak dinners B) 6 steak dinners C) 8 steak dinners D) 10 steak dinners

Economics

Following the 2007-2009 financial crisis, many people feared that Greece might leave the euro and resume using the drachma. If that happened, the drachma might be worth less than the euro

When using fiat money like the drachma, the key to acceptance is that households and firms have confidence that if they accept drachma in exchange for goods and services, the drachma will not lose much value during the time they hold them. If sellers were not willing to accept the drachma in exchange for goods and services, the drachma would not serve as A) a medium of exchange. B) fiat money. C) legal tender. D) a unit of account.

Economics

Figure 33-7 ? In Figure 33-7, the only sustainable long-run equilibrium position is at point

A. A. B. B. C. C. D. D.

Economics