The evidence on mergers occurring within the hospital industry suggests that
A) efficiency gains that resulted have been passed on to customers through lower prices.
B) the mergers have tended to not have any significant effect on hospital prices.
C) prices have risen slightly as some efficiency gains are passed on to customers after mergers.
D) prices have risen after mergers.
D
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When people determine the quantity of education they will undertake, they ________ the external benefits. As a result, if education were left to an unregulated market, people would undertake too ________ education
A) overvalue; much B) ignore; much C) ignore; little D) overvalue; little
If the long-run supply curve in a perfectly competitive industry is upward sloping, this is because
A) firms are different. B) firms are identical. C) input prices rise as the industry expands. D) Either A or C.