Refer to the Table Shown That Depicts a Third-Party Payer

Refer to the table shown that depicts a third-party payer market. What is the cost of this program to the third-party if a $2 co-pay is established? $$\begin{array} { | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Quantity Supplied } \\\hline \$ 0 & 1,200 & 0 \\\hline \$ 1 & 600 & 150 \\\hline \$ 2 & 300 & 300 \\\hline \$ 3 & 0 & 450 \\\hline \$ 4 & 0 & 600 \\\hline \$ 5 & 0 & 750 \\\hline \$ 6 & 0 & 900 \\\hline \$ 7 & 0 & 1,050 \\\hline\end{array}$$

A) $0
B) $150
C) $600
D) $1,200

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free