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A shortage of kidneys for transplants results from a
A shortage of kidneys for transplants results from
a. the legal price being set below equilibrium.
b. the legal price being set above equilibrium
c. a price floor being set in the kidney market at P = $0, assuming the equilibrium price is greater than $0.
d. a price ceiling being set in the kidney market at P = $0, assuming the equilibrium price is greater than $0.
e. a and d
Expert Solution
The correct answer is (e) a and d. When the legal price of a kidney is set below the equilibrium price, then individuals will be discouraged to donate a kidney; thus there are shortages of the kidney for transplant in the kidney market.
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