Who Is Most Likely to Use Complementary and Alternative Medicine

question 8

Multiple Choice

Who is most likely to use complementary and alternative medicine in the U.S.?​

• A) ​middle to-upper class women
• B) young men​
• C) the elderly​
• D) the poor who can't afford health care​
• E) executives​

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Definitions:

Dominant Firm Model

A market structure in which one firm has a major share of total sales and sets the price for the whole market, influencing the behavior of smaller competitors.

Fringe Firms

Fringe firms are smaller companies in a market that compete alongside the larger, dominant firms, typically having a minimal market share.

Competitive Firms

Companies that operate in a market where no single producer or consumer has the market power to influence prices significantly.

Oligopolistic Market Outcomes

In an oligopolistic market structure, outcomes often include limited competition, price stability or price wars, and potential for collusion among the few dominant firms.