Refer to the Table Shown That Depicts a Third-Party Payer

question 107

Multiple Choice

Refer to the table shown that depicts a third-party payer market. What is the cost of this program to the third-party if a $1 co-pay is established? $$\begin{array} { | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Quantity Supplied } \\\hline \$ 0 & 1,200 & 0 \\\hline \$ 1 & 600 & 150 \\\hline \$ 2 & 300 & 300 \\\hline \$ 3 & 0 & 450 \\\hline \$ 4 & 0 & 600 \\\hline \$ 5 & 0 & 750 \\\hline \$ 6 & 0 & 900 \\\hline \$ 7 & 0 & 1,050 \\\hline\end{array}$$

• A) $0
• B) $600
• C) $1,800
• D) $2,400

---

Definitions:

Population Parameters

Population parameters are numerical values that summarize or describe characteristics of an entire population, such as the mean or variance.

Measures of Dispersion

Statistical values that indicate how spread out the data points in a data set are.

Maximum

The highest value in a data set.

Multivariate Statistics

A subset of statistics encompassing the simultaneous observation and analysis of more than one outcome variable.