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

question 108

Multiple Choice

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

-(Exhibit: Third-Party Payers) Based on the exhibit, and assuming there are no third-party payers, the:

• A) equilibrium price for physician office visits is $80.
• B) equilibrium quantity is 3 million physician office visits per week.
• C) total amount spent on physician office visits per week at the equilibrium price is $40 million.
• D) equilibrium price for physician office visits is $40.

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Definitions:

Extraneous Solutions

Extraneous solutions are results that emerge from the solving process of an equation but do not satisfy the original equation.

Extraneous Solutions

Extraneous solutions are solutions that arise in the process of solving an equation but do not satisfy the original equation.

Equation

An affirmation in mathematics that posits the equality of two different expressions.

Directly

Directly refers to a manner of action or occurrence that happens without any intervening factors or steps.