Capitated payments:
a. shift financial risk onto patients.
b. are the maximum allowable fees in a fee-for-service system.
c. are charges that providers include in bills sent to insurance companies.
d. create incentives to provide fewer services.
e. pay for all medically necessary care.
d. create incentives to provide fewer services.
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What is the “right” degree of abstraction necessary to analyze an economic problem?
A. Simple abstraction of only minor details B. Simple abstraction of only irrelevant details C. Total abstraction of all variables D. Total abstraction of all irrelevant details E. There is no “right” degree of abstraction to analyze an economic problem.
Refer to Figure 13-1. The marginal revenue from the increase in price from P0 to P1 equals
A) the area (A - D). B) the area (B + D - A). C) the area (C - B). D) the area A.
At an output of 156, MC = $17, ATC = $17, and MR = $18. At that output the firm is
A. maximizing its profits, but not operating at peak efficiency. B. maximizing its profits and operating at peak efficiency. C. operating at peak efficiency, but not maximizing its profits. D. neither operating at peak efficiency nor maximizing its profits.
Refer to the provided graph. At which point does marginal product (MP) equal average product (AP) at a specific level of output?
A) point B B) point D C) point A D) point C