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

question 47

Multiple Choice

Refer to the table shown that depicts a third-party payer market. What is the price the supplier will charge for the quantity consumers demand 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)$1
• B)$2
• C)$4
• D)$7

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Definitions:

Pricing Strategy

A plan or approach used by businesses to set prices for their products or services, aiming to achieve maximum profitability.

Sales Orientation

A business approach that focuses primarily on the sale of products or services, rather than understanding and meeting the needs of the customers.

Pricing Strategy

A plan or method used by companies to determine the best price for their products or services to maximize profits and meet market demands.

Five Cs

A marketing concept focusing on Customer, Company, Competitors, Collaborators, and Context as critical components of successful marketing strategies.