Brand name products tend to have demand curves that are relatively more inelastic because
A) brand name products tend to have more substitutes.
B) brand name products tend to have fewer substitutes.
C) consumers are very sensitive to the prices of brand names.
D) brand names are not valued.
Question 2
A preferred provider organization (PPO) is:
a. an organization that contracts with physicians, medical facilities, employers, and individuals to provide medical care to a group of individuals.
b. a network of doctors who agree to provide services to a health plan's enrollees at discounted fees.
c. a not-for-profit hospital network.
d. a structure that utilizes traditional insurance plans.
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Survivorship curves. Blue lines are theoretical curves. Red dots are data from field studies.