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, the equilibrium quantity of medical services is

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, the equilibrium quantity of medical services is

Quizplus · Accepted Answer

The intersection of the demand and supply curves in the market for medical services with insurance and a third-party payer system occurs at a quantity of 700 units, so the equilibrium quantity of medical services is 700.

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