Use the Following to Answer Questions

question 107

Multiple Choice

Use the following to answer questions:
Table: Market for Apartments
-(Table: Market for Apartments) Look at the table Market for Apartments. If a government price ceiling of $600 is imposed on this market, the result will be an inefficiency in the form of a _____ million apartments.

• A) surplus of 0.6
• B) surplus of 0.8
• C) shortage of 0.8
• D) shortage of 0.6

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Definitions:

Explanation of Benefits (EOB)

A document provided by insurance companies to members detailing the costs covered and owed for healthcare services received.

Institutional Provider

A healthcare facility such as a hospital, clinic, nursing home, or any organization that delivers medical care services.

CMS-1450

A form used in the healthcare industry for hospital providers to bill Medicare and Medicaid programs and some private insurers.

Electronic Data Interchange (EDI) Transactions

The electronic exchange of business information in a standardized format, often used in healthcare for billing and record-keeping.