According to the Law of One Price

question 20

Multiple Choice

According to the law of one price,

• A) it is illegal to pay different people different amounts for the same work.
• B) it is illegal to charge different people different amounts for the same product.
• C) competition, combined with transferable goods and resources, drives the prices of similar goods toward equilibrium.
• D) competition, combined with inherent advantages, drives the prices of similar goods toward equality.

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Definitions:

Fee Schedules

Lists detailing the charges or fees for specific services or procedures provided by professionals or institutions.

Reimburse Providers

The process of repaying healthcare providers for services rendered to patients.

States

In a geographic context, states are defined political territories with sovereign governance and clear boundaries, recognized as such by other states and international bodies.

Qualification

A condition or prerequisite needed for someone or something to be deemed suitable for a particular task or recognition.