Consolidation activity in the hospital industry
a. has slowed due to government regulations.
b. has created a large number of nationwide for-profit hospital chains.
c. has occurred almost exclusively at the local level.
d. occurs for same reasons that cause consolidation in other industries.
Question 2
Assume X and Y are the only two goods a person consumes. If after a rise in the quantity demanded of Y increases, one could say
a. the income effect dominates the substitution effect for Y.
b. the substitution effect dominates the income effect for Y.
c. it is impossible to determine whether the substitution or income effect dominates for Y.
d. None of the above.
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