Question
1. identify the determinant of demand or supply that has changed (something like the # of firms has decreased). Show on the graph how the
1. identify the determinant of demand or supply that has changed (something like the # of firms has decreased).
Show on the graph how the given situation affects the market for the specific good by shifting either supply, demand or both.
Label the new equilibrium price and quantity on the graph as P 2 & Q2 and list how both the equilibrium price and quantity change (increase/decrease, etc.) as the result of this change in the space provided.
If you do not think there is a shift, then determine what has changed and how this impacts the market.
There were more than 10,000 deceased organ donors last year, a 3% increase over the previous year and a 27% jump since 2007. More than 1,300 of those donors, or 13%, died from drug overdoses. About 40% of the increase (in the past five years) tracks back to the drug intoxication issue, said Dr. David Klassen, the network's chief medical officer. And although the data didn't determine which drugs contributed to those overdoses, Klassen said opioids were probably involved. We don't have the data ... to absolutely say that with certainty, but I think that's a reasonable assumption."
How does this change affect the market for organs?
What determinant of demand or supply changed?
What is the equilibrium price and equilibrium quantity?
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