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In a Managed Care Environment the Emphasis Is on

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In a managed care environment the emphasis is on


Definitions:

Total Revenue

The sum of money a company earns from selling its products or services, prior to deducting any costs.

Elastic

Describes a situation in which the quantity demanded or supplied of a good or service changes significantly as its price changes.

Inelastic

A characteristic of goods whereby a change in price leads to a relatively smaller change in the quantity demanded or supplied.

Total-revenue Test

A method used to determine the price elasticity of demand by observing changes in total revenue as a result of price alterations.

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