In our discussion of the kidney market, we represent the demand curve for kidneys as downward sloping

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In our discussion of the kidney market, we represent the demand curve for kidneys as downward sloping and the supply curve of kidneys as upward sloping. At the end of the discussion, we state, “If it is unlawful to pay someone for a kidney, fewer kidneys will be forthcoming. In other words, the quantity supplied of kidneys is less at $0 than at, say, $20,000. Fewer kidneys supplied mean fewer kidney transplants.” Would there be fewer kidney transplants if the supply curve of kidneys is vertical? Explain your answer.

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Macroeconomics

ISBN: 9780324785500

9th Edition

Authors: Roger A. Arnold

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