Figure 7-4 Figure 7-4 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 7-4. With insurance and a third-party payer system, what price do consumers pay for medical services?

Question

Figure 7-4  Figure 7-4 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 7-4. 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 for medical services, often just a copayment, which in this case is $25.

Figure 7-4 Figure 7-4 Represents the Market for Medical