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MHA 710 Study guides, Class notes & Summaries
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MHA 710 - Healthcare Economics - Exam 3 with Complete Solutions 2024
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MHA 710 - Healthcare Economics - Exam 3 with Complete Solutions 2024 
In order to be a successful price discriminator, a provider must have a degree of market power (depicted by a downward-sloping demand curve) and meet what other condition(s)? 
a. Customers cannot know that different prices are being charged. 
b. Markets must be segmentable, identifying differences in ability to pay. 
c. Demand for services must be relatively price elastic. 
d. Profitable service expansion opportunities must be...
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MHA 710 Exam 1 Questions with Correct Answers 100% Verified Graded A% 2024
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MHA 710 Exam 1 Questions with Correct Answers 100% Verified Graded A% 2024 
What is "economics"? - Correct Answer A Map for decision making. Economics analyzes the allocation of scarce resources. 
 
What are some of the specific challenges faced by managers in healthcare? - Correct Answer 1. The central roles of risk and uncertainty 
 
2. The complexities created by insurance 
 
3. The perils produced by information asymmetries 
 
4. The problems posed by not-for-profit organizations 
 
5. The r...
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MHA 710 Economics Ch. 14 Medicaid |Quizzes with Complete verified Solutions
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Research indicates that the 2014 expansion of Medicaid has led to a number of unintended 
consequences including: - ANSWER higher per capita spending on the expansion population 
than anticipated. 
Of the four categories of the Medicaid-eligible population, which of these could benefit by 
opening up the health exchanges to some degree of privitization? - ANSWER Adults
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MHA 710 Exam |Questions Solved 100% Correct!! Latest Update 2024
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because resources are scarce, what are the 3 important questions to ask - ANSWER 1- WHAT 
shall we produce (or not) 
2- HOW shall we produce it 
3- WHO gets what produced 
cost - ANSWER the value of a resource in its next best use 
marginal or incremental cost - ANSWER the cost of producing an additional unit of output 
rational decision making - ANSWER choosing the course of action that offers the best 
outcomes, given the constraints one faces
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MHA 710 Exam -Economics Ch. 16 |Questions Solved 100% Correct!! Latest Update 2024
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What is the name of the health care reform feature where employers can either 
provide health care coverage to their employees or pay a payroll tax to fund 
government-provided insurance? - ANSWER Play-or-pay 
Which of the following countries placed highest on the healthcare access and 
quality (HAQ) index? - ANSWER Switzerland
And that's how you make extra money
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MHA 710 - Healthcare Economics - Exam (Part 1 - Ch. 1 & 2) Quizzes with Complete verified Solutions
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Economics is best defined as the study of how to run a business most profitably. True or False. - 
ANSWER False 
Exhaust from a factory that increases health risks for people living near the factory is an 
example of an externality. True or False. - ANSWER True 
In 2008 and 2009, the U.S. economy experienced a deep economic downturn. If there is a short- 
run trade-off between inflation and unemployment, to combat the high unemployment, 
President Obama should have pursued an inflationary policy...
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MHA710 Module 1 |Questions Solved 100% Correct!! Latest Update 2024
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Which of the following is the best synonym for "marginal" in economics? - 
ANSWER additional 
A recurring theme in economics is that people - ANSWER Have unlimited wants, 
but limited resources. 
As a consequence of the problem of scarcity: - ANSWER Individuals have to make 
choices from among alternatives
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MHA 710 Economics Exam |Quizzes with Complete verified Solutions
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Which of the following statements is true about the Medicaid program? 
a. The majority of total outlays are for the elderly and disabled. 
b. Eligibility standards are uniform across all states. 
c. Everyone in the poverty-level population is eligible for benefits. 
d. Federal tax revenues provide 100 percent of the program's funding. 
e. The law places a ceiling on state per capita spending for enrollees. - ANSWER a. The majority 
of total outlays are for the elderly and disabled
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LSUS MHA 710 Economics Exam 1 |Questions Solved 100% Correct!! Latest Update 2024
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Which of the following represents the largest category of health care spending in the 
United States? - ANSWER Hospital Care 
The direct effect of a shortage of hospital beds in a hospital services market is: - 
ANSWER Upward pressure on the price of a hospital stay. 
All of the following will cause a shift in the medical care supply curve, except: - ANSWER 
A change in the percentage of the population with health insurance.
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MHA 710 Module 5 |Questions Solved 100% Correct!! Latest Update 2024
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Chapter 11 Key Concepts - ANSWER All healthcare managers need to understand how to 
maximize profits. 
Most healthcare organizations are inefficient, so cost reductions can increase profits. 
To maximize profits, firms should expand as long as marginal revenue exceeds marginal cost. 
Marginal cost is the change in total cost associated with a change in output.
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MHA 710 - Healthcare Economics - Exam 3 with Complete Solutions 2024| A+
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MHA 710 - Healthcare Economics - Exam 3 with Complete Solutions 2024| A+ 
In order to be a successful price discriminator, a provider must have a degree of market 
power (depicted by a downward-sloping demand curve) and meet what other 
condition(s)? 
a. Customers cannot know that different prices are being charged. 
b. Markets must be segmentable, identifying differences in ability to pay. 
c. Demand for services must be relatively price elastic. 
d. Profitable service expansion opportunities m...
-
MHA 710 Exam 1 Questions and Answers 100% Pass
- Exam (elaborations) • 18 pages • 2024
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MHA 710 Exam 1 Questions and Answers 100% Pass 
What is "economics"? - Correct Answer ️️ -A Map for decision making. Economics 
analyzes the allocation of scarce resources. 
What are some of the specific challenges faced by managers in healthcare? - Correct 
Answer ️️ -1. The central roles of risk and uncertainty 
2. The complexities created by insurance 
3. The perils produced by information asymmetries 
4. The problems posed by not-for-profit organizations 
5. The rapid and confusing...
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