Purchase Solution

Price discrimination for medical services can often be legal. T F

Not what you're looking for?

Ask Custom Question

A. Price discrimination for medical services can often be legal. T F

b. Medicare and Medicaid cover about 80 million people?

c. One must be age 65 or older to get Medicare.

d. Everyone in Medicare has access to prescription drugs.

e. Medicaid is available to all people above age 65.

f. Monopsony power rests in the hands of buyers.

g. Medicine in the U.S. operates in a free market.

h. Federal employees operate under a plan run by:
A) Wal Mart
i. Blue Cross Blue Shield
C) Aetna
D) Humana

j. Doctor visits and co-pays rise from $20 to $30 and quantity demanded drops from 5 to 3 visits. Using the traditional method what is the price elasticity of demand:
A) -0.2
B) -0.5
C) -0.8
D) none of the above

k. Gasoline quantity demanded has _____ elasticity with respect to price:
A) Elastic
B) Unitary
C) Inelastic
D) Infinite

1. Discuss the relations of Aspirin& tylenol. Say how they affect the other in economic lingo

Purchase this Solution
Solution Preview

a. Price discrimination for medical services can often be legal. T F
True.
In medical services charges are dependent on income levels. Greater access to these services yield positive externalities and improve overall level of social welfare and the equity.

b. Medicare and Medicaid cover about 80 million people?
True.

c. One must be age 65 or older to get Medicare.
True. As one attains the age of 65, he /she is automatically eligible for the Medicare. However, it is ...

Purchase this Solution
Free BrainMass Quizzes
Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

View More Free Quizzes
Related BrainMass Solutions

  • Discussing Antitrust Regulations

    Price setting, price control, and/or discussing information for purposes of competitive bidding for contracts, goods, or services.

  • filing a civil lawsuit

    T F: Under the 1978 Amendments to the Age Discrimination in Employment Act, it is legal to force workers 70 years or older into retirement.

  • Monopoly

    In a theoretical market with perfect information, no transaction costs or prohibition on reselling to prevent arbitrage, price discrimination can only be enjoyed by a monopoly.

  • Healthcare: Fat Tax Based on BMI

    Low-income consumers may be "priced into the market" if the supplier is willing and able to charge them a lower price. Good examples to use here might include legal and medical services where charges are dependent on income levels ?

  • Affirmative Action and Diversity Management

    Finally, it discusses how the management of diverse teams can be improved in an organization. References: (a) Grisson. A (2018), Workplace Diversity and Inclusion, Reference & User Services Quarterly, 242. Belong, A. R. F. L. T., & Reading, S.

  • Economics

    T / F Price discrimination is when a company sells different products for the same price. 13. T / F A conglomerate is a firm with a number of unrelated lines of business. 14.

  • social welfare implications of price discrimination

    72174 Social Welfare Implications of Price Discrimination 1) Price discrimination is often defended on the basis of equity (Charge less for the poor than the rich!). Is this the only rationale for price discrimination?

  • Monopolies

    130694 Monopolies for Price Discrimination What is an example of price discrimination within the aviation community that could very well be considered illegal? In your opinion, should lobbying be legal or illegal?

  • Employment and Labor Law Influences

    Used for information as we develop the company. 2- Describe and analyze essential economic and legal factors for the company's horizontal construction.

View More Related Solutions