Figure 7-2

Figure 7-2 represents the market for medical services with and without insurance, and the effect of a third-party payer system on the demand for medical services.
-Refer to Figure 7-2.With insurance and a third-party payer system, what price do consumers pay for medical services?

Question

Figure 7-2
  
Figure 7-2 represents the market for medical services with and without insurance, and the effect of a third-party payer system on the demand for medical services.
-Refer to Figure 7-2.With insurance and a third-party payer system, what price do consumers pay for medical services?

Quizplus · Accepted Answer

In a third-party payer system, consumers typically pay a lower price than the actual cost of the service due to insurance coverage. The figure likely shows that consumers pay $25, which is the out-of-pocket cost after insurance.

Figure 7-2 Figure 7-2 Represents the Market for Medical Services with and for Medical