Features of competitive markets within the healthcare system – 1+ page

Health care is an important part of the overall economy in the United States and the market can drive health care costs and quality. Discuss the following issues related to this. 

 

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  1. Discuss the features of competitive markets versus market failures in health care.
  2. Discuss market power and its relationship to market failure. Also describe the economic consequences that might result, in terms of supply, supplier behavior, and quality of services, if market failure occurs.

Must be in APA format with references and be 1+ pages

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