Figure 12-2 -Refer to Figure 12-2.Why Is the Total Revenue Curve a Total

question 20

Multiple Choice

Figure 12-2

-Refer to Figure 12-2.Why is the total revenue curve a ray from the origin?

• A)because revenue increases at an increasing rate
• B)because revenue increases at a decreasing rate
• C)because the firm can sell its product at a constant price
• D)because the firm must lower its price to sell more

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Definitions:

Administrative Simplification Compliance Act (ASCA)

Identifies limited situations where paper claim forms may be submitted for payment (rather than electronic submission); signed into law on December 27, 2001, as Public Law 107-105.

CMS-1500

A standard form used in the United States to submit healthcare claims to Medicare and Medicaid, as well as many private insurers and managed care organizations.

Third-Party Reimbursers

Entities that provide payment for healthcare services on behalf of beneficiaries, such as insurance companies.

Third-Party Reimbursement

A payment system where an outside entity (the third party), not the patient nor the healthcare provider, pays for healthcare services.