The term "human capital" refers to how many people must work to produce a product

What is a public good?

What will be an ideal response?

When medical fee schedules are negotiated by two monopolists—one representing patients and one representing providers—the equilibrium medical fees will:

a. be less than fees determined by patient groups alone. b. be greater than fees determined by provider groups alone. c. depend on the relative bargaining strengths of the two groups negotiating the fee schedule. d. be less than fees determined in a competitive market. e. be greater than fees determined in a competitive market.