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The relationship between professional basketball players and the owners' association is an example of a bilateral monopoly.
Cost-Efficient
A term describing a process or product that minimizes cost while maximizing effectiveness, often used in financial and operational planning.
Medicare Patient
An individual who is receiving health benefits under the Medicare program, typically for those 65 years and older or with certain disabilities.
Accept Assignment
In healthcare, agreeing to accept the insurance company's payment as full payment for services rendered.
Health Maintenance Organizations
A type of health insurance plan that typically requires members to receive care from a network of specified healthcare providers and facilities to be covered.
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