Use the Following to Answer Question(s): Third-Party Payers

question 41

Multiple Choice

Use the following to answer question(s) : Third-Party Payers

-(Exhibit: Third-Party Payers) When the price of $20 per visit becomes available to the consumer because of insurance:

• A) health-care costs become $180 million, of which $60 million is paid by consumers and $120 million is paid by insurance.
• B) health-care costs become $180 million, of which $120 million is paid by consumers and $60 million is paid by insurance.
• C) the new quantity of physician office visits is 1 million visits per week.
• D) both A and C are true.

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Definitions:

Inconsistent Over Time

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Microeconomic Principles

The study of individual, household, and firm behaviors in decision-making and allocation of resources, often in markets where goods or services are bought and sold.

Preferred Spending

Often refers to the prioritization of budget allocation by individuals, businesses, or governments, favoring certain categories or sectors over others.

Canoeing and Kayaking

Recreational or competitive water sports involving navigating waterways in small, narrow vessels.