An insurance company that is the only company selling mandatory health insurance in a state is an example of which market structure?

What will be an ideal response?


monopoly

An insurance company that is the only company that sells health insurance in a state is an example of a monopoly because it is the only seller of a product with no close substitutes.

Economics

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What does it mean to say that workers and firms have rational expectations?

What will be an ideal response?

Economics

Compared to the rest of the world, the United States spends a larger percentage of its GDP on Social Security than any other country

Indicate whether the statement is true or false

Economics

Which of the following is the best definition of economics?

a. An investigation of the quantities and prices of the various goods produced by the nations of the world. b. A study of why inflation and unemployment periodically plague the U.S. economy. c. An analysis of how individuals and societies deal with the problem of scarcity. d. An examination of the role that money plays in the economy. e. A study of how goods and services are distributed throughout the world.

Economics

Bob, a Greek citizen, opens a restaurant in Chicago. His expenditures

a. increase U.S. net capital outflow and have no affect on Greek net capital outflow. b. increase U.S. net capital outflow and increase Greek net capital outflow. c. increase U.S. net capital outflow, but decrease Greek net capital outflow. d. decrease U.S. net capital outflow, but increase Greek net capital outflow.

Economics