Assume the sale of human organs is legalized and a free market develops. Furthermore,assume the market is in equilibrium. Trace through the price and output effects of the following: 3a. An increase in the incomes of potential buyers of human kidneys. 3b. A decrease in the price of kidney dialysis. 3c. The development of a new drug that leaves the immune system intact while preventing transplant rejection. 3d. A greater willingness by individuals to supply human kidneys.
Assume the sale of human organs is legalized and a free market develops. Furthermore,assume the market is in equilibrium. Trace through the price and output effects of the following: 3a. An increase in the incomes of potential buyers of human kidneys. 3b. A decrease in the price of kidney dialysis. 3c. The development of a new drug that leaves the immune system intact while preventing transplant rejection. 3d. A greater willingness by individuals to supply human kidneys.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Assume the sale of human organs is legalized and a free market develops. Furthermore,assume the market is in equilibrium. Trace through
the price and output effects of the following:
3a. An increase in the incomes of potential buyers of human kidneys.
3b. A decrease in the price of kidney dialysis.
3c. The development of a new drug that leaves the immune system intact while preventing transplant rejection.
3d. A greater willingness by individuals to supply
human kidneys.
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