Market power

Market power is generally defined as the ability of a firm to set prices above what a perfectly competitive
market would allow. A firm with a service or product that is relatively price inelastic, has market power- the
ability to raise prices without fear of loosing sales. Answer the following questions below:
Is the market power of healthcare providers nd insurance a reason for concern- why or why not?
If you decide that it is, what can be done to address the issue?

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