The major difference between the for-profit and the not-for-profit organizational form is:
a. patients receive higher quality of care in not-for-profit hospitals.
b. shareholders receive higher return on their investment in a not-for-profit environment.
c. primarily the ability to transfer assets.
d. for-profit hospitals do not provide charity care.
e. the absence of a profit motive in the not-for-profit environment.
c. primarily the ability to transfer assets.
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When players cannot achieve their goals because they are unable to make credible threats or promises, the situation is called a:
A. Nash equilibrium. B. prisoner's dilemma. C. failure of dominant strategies. D. commitment problem.
The key characteristic of an oligopolistic market is:
A) production of a homogeneous product. B) mutual interdependence among firms in the market. C) the absence of market power by any one firm. D) ease of entry into, and exit out of, the market.
The period that elapses between the passage of legislation reducing taxes and the time the tax cut is put into effect is called the __________ lag
A) data B) wait-and-see C) legislative D) transmission
The less elastic a monopolistic competitor's long-run demand curve, the:
A. less its excess capacity. B. higher its price relative to that of a pure competitor having the same cost curves. C. higher its long-run profits. D. lower its average total cost at its equilibrium level of output.