Question

In a single-payer system, which of the following is true? The single payer is able to act as a monopolist. Medical care is available promptly to all who want it. Physicians' wages are generally higher than in a multipayer system. Medical care tends to be rationed through pricing. The single payer is able to act as a monopsonist.

Answer 1

The correct answer is: The single payer is able to act as a monopsonist.

Step-by-step explanation:

In a single-payer system, there is only one entity (the government) that pays for and provides healthcare services. This single payer has significant market power and can negotiate prices and terms with healthcare providers. This allows the single payer to act as a monopsonist (a single buyer of goods or services in a market). As a result, the government has more control over healthcare costs and can often negotiate lower prices for medical services and supplies. However, this can lead to longer wait times for certain services and may limit the ability of patients to choose their healthcare providers.