Which of the Following MCOs Typically Has/have the Lowest Monthly

question 18

Multiple Choice

Which of the following MCOs typically has/have the lowest monthly premiums with lower patient financial responsibility?

• A) Medicare/Medicaid
• B) PPOs
• C) HMOs
• D) BC/BS
• E) IPA

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Definitions:

Dominant Firms

Companies that hold a significant portion of market share within their industry, influencing market prices and competition.

Purely Competitive Markets

Markets characterized by many sellers offering identical products, leading to a high degree of competition and efficiency.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Economic Profits

Profits earned by a business after accounting for both explicit costs (like wages and rents) and implicit costs (such as opportunity costs).