Question

Most healthcare organizations have some market power. This implies that price controls Question 36 options: 1)...

Most healthcare organizations have some market power. This implies that price controls

Question 36 options:

1)

must be beneficial.

2)

must be irrelevant.

3)

must be harmful.

4)

may have a variety of effects.

Homework Answers

Answer #1

Option 4.

  • Price controls are the limits set by the government that determine how high any firm can charge a customer for their goods and services.
  • Price controls can be either be price ceilings or price floors. Price floors allow firms to charge higher than the equilibrium prices and they give them market power. While price ceilings do not allow them to charge a price higher than the equilibrium price.
  • A price control having variety of effects can help organization's to gain significant market powers. Hence most healthcare organizations are said to have market powers.
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