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The nurse case manager is explaining to a group of health care providers how insurance expenditures for health spending led to the development of diagnosis-related groups (DRGs) in efforts to control spending. What should the case manager emphasize as the driving force for directing health efforts with DRGs?
Total Product
The total quantity of output produced by a firm from a given quantity of inputs.
Labor Demand Curve
A graphical representation showing the quantity of labor that firms are willing to hire at different wage rates, assuming other factors remain constant.
Purely Competitive
A market structure characterized by many buyers and sellers, free entry and exit, and products that are homogeneous.
Labor Productivity
Total output divided by the quantity of labor employed to produce it; the average product of labor or output per hour of work.
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