Which of the following is not evidence of the lower standard of living among less-developed countries?
a. High per capita real GDP.
b. High percentage of households headed by females.
c. High infant mortality rate.
d. Low life expectancy.
e. High birth rate.
a
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What is one reason the supply and demand model might NOT be appropriate to the health-care industry?
A) Consumers do not have full information. B) Providers do not know the demand for health-care services. C) Consumers do not know how to value their own health. D) The costs of finding a doctor are too low.
In a price-leadership oligopoly, it is much simpler for the price leader to identify its dominant strategy when
a. at least one price follower has a terminal strategy b. it expects competition from the other firms c. it expects other firms to match its prices d. the government actively seeks antitrust penalties e. price equals marginal cost