Figure 5-4
Figure 5-4 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 5-4.With insurance and a third-party payer system,the equilibrium quantity of medical services is

Question

Figure 5-4
  Figure 5-4 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 5-4.With insurance and a third-party payer system,the equilibrium quantity of medical services is

Quizplus · Accepted Answer

The point where the demand and supply curves intersect with insurance and a third-party payer system is at a quantity of 700 medical services. This is the equilibrium quantity for the market.

Figure 5-4 Figure 5-4 Represents the Market for Medical Services