Question
PLEASE THIS IS AN EMERGENCY!!! I can't read the articles because the website says that I reached my free article limit so I really need
PLEASE THIS IS AN EMERGENCY!!!
I can't read the articles because the website says that I reached my free article limit so I really need help with this,
1. Read carefully the following NYT Opinion Guest Essay. Keep in mind that it is an opinion piece.
"The Woman Who Shattered the Myth of the Free Market" by Zachary D. Cart, NYT April 24, 2021.Links to an external site.
The neoclassical economics of Alfred Marshall was based on the assumption that, given competitive market structure, markets would [ Select ] ["reach equilibrium", "remain in disequilibrium", "move to dissequilibrium", "dissolve themselves"] , workers would [ Select ] ["be underpaid", "be overpaid", "be paid the value of their contribution to production"] and consumers would [ Select ] ["benefit from lower prices and innovation.", "suffer from higher prices and lack of innovation.", "suffer from higher prices but enjoy innovation."] . Marshall assumed that monopolies were [ Select ] ["endemic", "temporary flaws", "nonexistent"] and that markets [ Select ] ["were naturally inefficient.", "naturally tended towards competition.", "naturally tended towards monopolies."] .
Joan Robinson [ Select ] ["agreed with", "questioned"] Marshall's assumptions. She argued that market power was [ Select ] ["nonexistent", "widespread in most markets", "very rare"] and that competition was [ Select ] ["inefficient.", "everywhere.", "exceptional."] . She introduced the new concept of [ Select ] ["perfect noncompetition", "monopsony", "monopower", "monopurchase"] which described a situation of a single buyer who can exert a [ Select ] ["upward", "downward", "zero"] pressure on the price. For Robinson, most labor markets were [ Select ] ["competitive", "monopsonistic"] and workers were [ Select ] ["overpaid", "underpaid"] . She thus favored [ Select ] ["the power of the unions but NO government intervention in the labor markets.", "perfectly free markets with no government intervention.", "abolishion of labor markets.", "the power of the unions and government regulation of the labor markets."]
2. Read carefully the following Planet Money Newsletter:
"The Untamed Rise of Hospital Monopolies" by Greg Rosalsky, Planet Money Newsletter, July 20, 2021Links to an external site.
In this Planet Money newsletter, Greg Rosalsky gives the mergers and acquisitions of large hospital systems as an example of [ Select ] ["growing competition in the health care system.", "growing monopoly power in the healthcare system.", "falling monopsony power in the healthcare system"] . Research by economists Zack Cooper and Martin Gaynor indicates that about [ Select ] ["a quarter", "a half", "60%", "80%"] of US hospitals are now "highly concentrated" in terms of market power concentration and that such monopolization [ Select ] ["lowered prices", "raised prices"] for patients and led to [ Select ] ["better health outcomes", "worse health outcomes", "widespread innovation"] . The Federal Trade Commission (FTC) was not able to use its antitrust power to block anti-competitive mergers between hospitals because [ Select ] ["hospitals are classified as non-profits.", "hospitals save lives.", "hospitals are allowed to make profits."] .
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