The Goal of the Program Is That, Even with Paying

question 7

True/False

The goal of the program is that, even with paying a contingency fee to the RAC auditors, the integrity of the Medicare Trust Funds would be maintained. CMS, during the demonstration phase of this project, committed to addressing some concerns raised along with identifying successes and opportunities for improvement.

---

Definitions:

Monopolist

A market participant that is the sole seller of a product or service, having significant control over its price.

Demand Curve

illustrates the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Marginal Cost

The expense incurred in creating an extra single unit of a product or service.

Price Elasticity

A metric that determines how the demand for a certain good fluctuates with its price adjustments.