As a result of moral hazard
A) both physicians and hospitals order more procedures.
B) physicians and hospital administrators have no incentive to raise costs.
C) patients increasingly have to worry about the expense of operations and other medical procedures.
D) both physicians and hospitals have a financial interest in trying to keep hospital costs down.
Answer: A
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Why do economists say that even very rich people face scarcity?
What will be an ideal response?
Perfect competition and monopolistic competition are similar in that both market structures include
A) price-taking behavior by firms. B) a homogeneous product. C) no barriers to entry. D) very few firms.
A good that is most likely to be in the producer price index is:
A. spaghetti. B. industrial machinery. C. SUV. D. All of these are in the PPI.
If the price were $8, how much would the firm's output be in the short run?
