The beauty of Nash's equilibrium concept is that
a. all games have one.
b. all games have no more than one.
c. all games have a rich set to choose from.
d. it is a Pareto optimum.
Question 2
When medical fee schedules are negotiated by two monopolistsone representing patients and one representing providersthe equilibrium medical fees will
a. be greater than fees determined in a competitive market.
b. be less than fees determined in a competitive market.
c. be greater than fees determined by provider groups alone.
d. be less than fees determined by patient groups alone.
e. depend on the relative bargaining strengths of the two groups negotiating the fee schedule.
