In the United States, market shortages of human organs are the result of price ceilings.
Answer the following statement true (T) or false (F)
True
The price ceiling of zero dollars per organ limits the supply of organs to only altruistic donors, which is only about one-third of the potential supply and less than the quantity demanded.
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Kelly has received a $50 check from her Grandparents to help with her expenses at college. She has narrowed her choices of how to spend the money to three: a new backpack, a dinner out with a friend, a fleece vest. Of these she likes the vest best and the backpack least. What is her cost of buying the fleece vest?
a. $50. b. A new backpack. c. A dinner out with a friend. d. Nothing since the money was a gift to her.
Suppose the price of cheese has recently risen from $4 to $6 per pound, while the price of fruit has fallen from $8 to $6 per pound. During this time, Miguel's income has stayed fixed at $48 per week. Before the price changes, Miguel had been buying 4 pounds of cheese and 4 pounds of fruit per week. Since the price changes, he has been buying 2 pounds of cheese and 6 pounds of fruit weekly. Assuming Miguel's preferences have not changed, is it possible to say whether the price changes have made Miguel better off or worse off? Explain.
What will be an ideal response?
Of the following, which has most likely contributed the most to the rapid rise in health care costs in the United States?
A) the cost of malpractice insurance B) the cost of malpractice lawsuit settlements C) the cost to treat uninsured patients D) slow growth in labor productivity in health care
Natural monopolies have U-shaped cost curves.
A. True B. False C. Uncertain