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The Pre-Existing Condition Insurance Plan is a federally administered part of the Affordable Care Act, and is designed for people with pre-existing medical conditions to obtain insurance.By offering health insurance to all U.S.citizens with pre-existing medical conditions, the Pre-Existing Condition Insurance Plan eliminates ________ for both the insurer and the insured, and eliminates ________ for the issuer of the insurance policy.
Marginal Benefit
The additional satisfaction or utility gained from receiving or consuming one more unit of a good or service.
Marginal Cost
The cost of producing one additional unit of a product or service, a key concept in economic theory for decision-making and pricing.
Monopolists
Entities that are the sole providers of a product or service in a market, allowing them to control prices and output levels.
Profit-Maximizing Output
The production level at which a business attains its greatest possible earnings.
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