When the United States is described as having a dual system of health care, this means that:
A. government provides basic health insurance for all Americans and private insurance
covers services beyond the basic level.
B. high-quality care is provided in urban areas, but care in rural areas is of poor quality.
C. those Americans with good insurance or substantial wealth receive world-class health care,
while those without insurance receive no or low-quality health care.
D. the high-risk segment of the population is required to have health insurance, while the low-
risk sector is not.
Answer: C
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A monopolist's profit maximizing price depends upon:
A. the elasticity of demand. B. the level of demand. C. the elasticity of supply. D. the level of supply.
Products may be homogeneous or differentiated in the ________ market structure.
A. oligopolistic B. perfectly competitive C. monopolistically competitive D. monopolistic