Differentiate Between Perfect Competition and an Oligopoly?​

question 135

Multiple Choice

Differentiate between perfect competition and an oligopoly?​

• A)Firms in an oligopoly earn economic profit in the long run, whereas firms in perfectly competitive market earn zero economic profit in the long run.
• B)Firms in an oligopoly charge a lower price than firms in a perfectly competitive market.
• C)Firms in an oligopoly face horizontal demand curves, whereas firms in a perfectly competitive market face downward-sloping demand curves.
• D)An oligopoly is characterized with low barriers to entry, whereas a perfectly competitive market is characterized with high barriers to entry.
• E)There are many firms in an oligopoly, whereas there are only a few firms in a perfectly competitive market.

Identify the processes and significance of credentialing in healthcare.

Understand the rights of patients under the Patient Care Partnership and related legal standards.

Recognize the importance of proper communication and contractual agreements in healthcare operations.

Understand the impact of relevant federal laws on healthcare practices, including HIPAA and GINA.

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Definitions:

Rheumatology

A branch of medicine focusing on the diagnosis and treatment of rheumatic diseases that affect the joints, muscles, and bones.

Endocrinology

The branch of medicine and biology dealing with the endocrine system, its diseases, and its specific secretions called hormones.

Cardiology

A branch of medicine dealing with disorders of the heart as well as parts of the circulatory system.

Oncologist

A specialist who identifies tumors and treats patients who have cancer.