Figure 5-5
Figure 5-5 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 5-5.With insurance and a third-party payer system,what price do consumers pay for medical services?

Question

Figure 5-5
  Figure 5-5 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 5-5.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 out-of-pocket price for medical services, which is often a copayment or a portion of the actual cost. In this case, $40 is likely the copayment amount.

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