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

question 9

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 $2 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)$150
• C)$600
• D)$1,200

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Definitions:

Normative Organizations

Groups that people join voluntarily to pursue goals they consider morally worthwhile, typically promoting specific values or norms.

Groupthink

A psychological phenomenon that occurs within a group of people, in which the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Macroanalysis

A sociological approach focusing on the study of large-scale societal structures and processes.

Challenger

An individual or entity that opposes or competes against a dominant or established opponent, often in a political, economic, or technological context.