Homework: Economics Short Paper- Market Power and Competition in Healthcare
Prompt: One of the key economic principles is competition or choice. For this short paper homework, define the terms "market concentration" and "market power" and describe how they are measured. What tools are used? How do these terms relate to the principle of competition?
Next, apply the concepts of market power, market concentration, and choice to the healthcare industry. How do you think these economic principles impact healthcare decision making and planning? Support your response with properly cited references from the assigned readings or other academic sources.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.