Author Question: Compared to the equilibrium price and quantity sold in a competitive market, a monopolist will ... (Read 54 times)

berenicecastro · **on:** Jul 1, 2018

Compared to the equilibrium price and quantity sold in a competitive market, a monopolist will charge a ________ price and sell a ________ quantity.

A) higher; larger
B) lower; larger
C) higher; smaller
D) lower; smaller
E) none of these

Question 2

How does the federal government avoid the asymmetric information problem associated with providing health care to people over 65 years of age?

A) Health care is standardized and is the same for all people over 65 years of age.
B) Health insurers rely on the reputation of the covered individuals.
C) Participation in the Medicare program is mandatory for all people over 65 years of age.
D) Health information about people enrolled in the Medicare program is publically available.