Answer:
The correct answer is option C.
Explanation:
A perfectly competitive firm faces a perfectly elastic demand curve. In a perfectly competitive market, there is a large number of buyers and sellers, such that no single firm is able to affects the price or output level. The demand curve faced by a single firm is a horizontal line.
The market demand curve, on the other hand, is downward sloping. So whatever be the market elasticity of demand, the elasticity of individual firm will be infinite.
Services are typically intangible.
Joann, most likely, has Point of Services type of insurance plan. There are six types of the insurance health plans that differs by their premium and benefit. The HMO plan, the PPO plan, the EPO plan, and the Point-of-Service Plan (POS) are the types of insurance plan that shares a similar benefit. However, the POS plan gives the most freedom in term of health providers. Thus, POS plan is the most suitable answer.
In this situation, it would be a breach of contract if G<span>nome would require </span>Omkara<span> to pay a higher price than the agreed price. They have already contracted the price and they both agreed to it. </span>Omkara<span> can enforce her right to the contract claiming that she will only pay the $50000 because it is what they have agreed upon.</span>
