Med Profs Is a Group of 18 Doctors

question 44

Multiple Choice

Med Profs is a group of 18 doctors.These doctors work out of their own offices and treat patients on a fee-for-service basis.In addition,Med Profs doctors also agree to treat HMO members at reduced fees.The type of HMO that uses organizations like Med Profs is called a(n)

• A)group model plan.
• B)closed panel plan.
• C)individual practice association plan.
• D)network model plan.

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Definitions:

Advertising Campaign

A series of advertisement messages that share a single idea and theme aiming to market a particular product or service.

Demand Curve

A visual chart illustrating how the quantity of a product that consumers want to buy varies with its price, usually showing a decline from left to right.

More Elastic

Describes a demand that is highly responsive to changes in price, where consumers are willing to buy significantly more or less of a product when its price changes.

Long-Run Equilibrium

A state in which all inputs in production can be adjusted, and there is no tendency for change in economic variables.