From the Following Answer Choices, Choose the Type of Clause

question 170

Multiple Choice

From the following answer choices, choose the type of clause or provision described in this situation. The provider contract between Dr. Olin Norquist and the Granite Health Plan specifies a time period for the party who has breached the contract to remedy the problem and avoid termination of the contract.

• A) Cure provision
• B) Hold-harmless provision
• C) Evergreen clause
• D) Exculpation clause

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Definitions:

Quantity Supplied

How much of a product or service that sellers are willing and able to transact at a given price level.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded; it is the price that clears the market.

Surplus

A surplus refers to the amount by which the quantity supplied of a product or service exceeds the quantity demanded, often resulting in a decrease in prices.

Shortage

A market condition where the demand for a good exceeds its supply at a specific price, often leading to price increases.