Which of the Following Is an Example of a Third-Party

question 20

Multiple Choice

Which of the following is an example of a third-party payer?

• A) The patient paying a co-pay
• B) The physician getting reimbursement for services provided
• C) The parents of a minor patient
• D) Prudential health insurance

---

Definitions:

Marginal Cost

Marginal Cost is the cost of producing one additional unit of a product or service, a crucial concept in decision-making and pricing strategies.

Monopolist

An entity that holds exclusive control over the supply of a particular good or service, allowing them to manipulate market conditions.

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, indicating the firm's profit beyond its opportunity cost.

Equilibrium Level

A state in which economic forces such as supply and demand are balanced, often resulting in stable prices or market conditions.