hi, i need answers for questions through 1 to 6 please with explanation. i would really appreciate that. thank you

MARKET FOR ORGANS In class, we have discussed markets as they apply to everyday kinds of commodities - apples, cars, basketball tickets, etc. - but what about market applications to non-traditional areas? INTRODUCTION DID YOU KNOW...? The US government has essentially capped the price of organs at 50 -- to sell human organs is illegal In this country In recent years, medical advances have enabled us to fight disease and lengthen lifespans, especially in developed countries. As a result, however, there is now an increasing need for organ transplants. In 1991, approximately 27,000 people were on a waiting list to get a kidney transplant. In that same Year, only 9,000 people were willing to donate kidneys. All of us have two kidneys, but can survive (and in fact live a normal life) with just one. This, of course, means that it is possible for anyone to decide to offer up one of his/her own organs, if the proper incentive exists. For some individuals, the Incentive Is altruistic (saving someone else's life is reason enough to be a donor), but for others, the incentive would have to be financial. Think about this question: What would your price be? ASSIGNMENT Please read carefully through the entire assignment, then answer the following responses do not need to be typed, but they do need to be legible): 1. CLICK HERE to go to the United Network for organ Sharing (UNOS Critical Data Need help finding what you need? see "Assignment Appendix" at the end of this document, BE SURE TO USE THE MOST RECENT COMPLETE YEAR U you choose the year thor we are currently in you will not get a full year's worth of Information. According to the most recent UNOS figures, a total of people are waiting for a kidney transplant, while total kidney donors were and a last year D. Is the marzet for kidney in equilibrium? How do you know? if the market is not in equibrium, are we currently looking at a market shortage or a market surplus no da vou now using precise and appropriate terminology for defining shortage or aung us from class the tectoook? Fow large is the shortage surplus, if texts te how many units What are the mplications of these numbers. What does the mean formatouad end society 2. Compare the most recent annual figures to the 1991 Figures that were given in the introduction of this assignment. a. Was the market in equilibrium back in 1991? b. If not, was there a shortage or a surplus, and how larga? c. What NUMERICAL CHANGES have been occurring in demand from 1991 to the present d. show what has been happening to the demand for kidneys and the supply of kidneys in a (FULLY LABELED) market diagram: MARKET FOR HUMAN JONES What factors can you think of that have most likely been contributing to the change in the market that you have illustrated above? For this question, l'd like you to write down AT LEAST THREE factors (more than three OK, tool that have been a "lecting the DEMAND for kidneys as illustrated above, and AT LEAST THREE factors that have been affecting the SUPPLY of kidneys as illustrated above. If you really get stuck, you may find some ideas to get you started in this 2008 article from The Economi Magazine Factors that have affected the DEMAND: Factors that have affected the SUPPLY Who are the current suppliers in the market for kidneys and what are the incentives to supply this particular commodity with the er sting market restrictions when responding to this question cons der that as discussed in class sellers in a market are motivated by profit-how do these suppliers preidor benefit the orice s legal set at zero? 4. What would your personal (rock-bottom) selling price for one of your kidneys be? HOW, PRECISELY, DID YOU ARRIVE AT THIS NUMBER? Justify your answer below by listing your SPECIFIC cost considerations - both monetary and non-monetary-as a supplier. Be sure to show the calculation of your minimum costs that need to be covered. TAKE A SURVEY. Ask five other people (NOT your Economics classmates) what their rock-bottom price would be in order to provide one of their own kidneys TO A STRANGER (this question is NOT about donating to a friend or family member) DO explain to survey participants all of the potential types of costs that you have considered above DO NOT tell survey participants what yow rock-bottom price is -- I may color the responses that you geti Person 1 2 3 Minimum Acceptable Price $ 5 5 5 DID YOU KNOW? in September 1999, donor idmay was put up for auction on 4 According to the artide below bidding reached 55.75 million balore : auction site blocked the sacaran illegal transaction dust something to step in mind if people soy they wouldn't accept ANY price for a kidmayla Auction for a Kidney Pops Up on Khay's Site ba "Hall, Funchal, at 5.000 odobe 1000 load the worly add to uno standby ohanoc hepata alize that not offeral La - hoceto ::.. tia sudits aday buman Trandor: tiden. T. Luba Tunda kaland 4** 10-411-cillir la lalu.. lanzakce, the dialele de calidad, ilus. Huwa LA- We cool the incident or the which becautare: 13 and aria accanto muze tusenduranchote the conducting the Latins olarawan mohonan and Nevir ten me the Linder-114. uglu - v. ------**....swathiuste. & Based on the information that y nchise de senestuminen represent the range of 20:30 er ces in the market are mentrated by e-maiket terese ness. certainly have some subset of the complete range. Perhaps more importantly, we now have information that we did not have before. b. What would be your best guess as to where the equilibrium price would be? support your educated guess with the data that you have collected here, and with intelligent speculation as to whether/why the price would be likely to satisfy the definition of "market equilibrium" (INSTRUCTOR'S NOTE: taking an average of your prices is NOT intelligent speculation, unless you have a powerful explanation as to why that price is likely to satisfy the definition of equilibrium). 5. Who would be the suppliers be in a market for kidneys that was free of price restrictions Le, where the market Price CAN be charged), and what are their incentives to supply this particular commodity? 6. Use the table to list your ideas on potential outcomes (positive & negative) of allowing payments for human kidneys. IMPORTANT NOTE: PLEASE DO NOT WAITE ABOUT prople oft in bathrubs of ice with their kidnostoien. This story son urban legend - you con check for yourse/ httpsnopes.com/factchecvevil S01-19-0-image. This Sort of kidnaly me, for the moment, medicaliy masurable Positive outcomes (BENEFITS) Negative Outcomes (COSTS) CONCLUSION MARKET FOR ORGANS In class, we have discussed markets as they apply to everyday kinds of commodities - apples, cars, basketball tickets, etc. - but what about market applications to non-traditional areas? INTRODUCTION DID YOU KNOW...? The US government has essentially capped the price of organs at 50 -- to sell human organs is illegal In this country In recent years, medical advances have enabled us to fight disease and lengthen lifespans, especially in developed countries. As a result, however, there is now an increasing need for organ transplants. In 1991, approximately 27,000 people were on a waiting list to get a kidney transplant. In that same Year, only 9,000 people were willing to donate kidneys. All of us have two kidneys, but can survive (and in fact live a normal life) with just one. This, of course, means that it is possible for anyone to decide to offer up one of his/her own organs, if the proper incentive exists. For some individuals, the Incentive Is altruistic (saving someone else's life is reason enough to be a donor), but for others, the incentive would have to be financial. Think about this question: What would your price be? ASSIGNMENT Please read carefully through the entire assignment, then answer the following responses do not need to be typed, but they do need to be legible): 1. CLICK HERE to go to the United Network for organ Sharing (UNOS Critical Data Need help finding what you need? see "Assignment Appendix" at the end of this document, BE SURE TO USE THE MOST RECENT COMPLETE YEAR U you choose the year thor we are currently in you will not get a full year's worth of Information. According to the most recent UNOS figures, a total of people are waiting for a kidney transplant, while total kidney donors were and a last year D. Is the marzet for kidney in equilibrium? How do you know? if the market is not in equibrium, are we currently looking at a market shortage or a market surplus no da vou now using precise and appropriate terminology for defining shortage or aung us from class the tectoook? Fow large is the shortage surplus, if texts te how many units What are the mplications of these numbers. What does the mean formatouad end society 2. Compare the most recent annual figures to the 1991 Figures that were given in the introduction of this assignment. a. Was the market in equilibrium back in 1991? b. If not, was there a shortage or a surplus, and how larga? c. What NUMERICAL CHANGES have been occurring in demand from 1991 to the present d. show what has been happening to the demand for kidneys and the supply of kidneys in a (FULLY LABELED) market diagram: MARKET FOR HUMAN JONES What factors can you think of that have most likely been contributing to the change in the market that you have illustrated above? For this question, l'd like you to write down AT LEAST THREE factors (more than three OK, tool that have been a "lecting the DEMAND for kidneys as illustrated above, and AT LEAST THREE factors that have been affecting the SUPPLY of kidneys as illustrated above. If you really get stuck, you may find some ideas to get you started in this 2008 article from The Economi Magazine Factors that have affected the DEMAND: Factors that have affected the SUPPLY Who are the current suppliers in the market for kidneys and what are the incentives to supply this particular commodity with the er sting market restrictions when responding to this question cons der that as discussed in class sellers in a market are motivated by profit-how do these suppliers preidor benefit the orice s legal set at zero? 4. What would your personal (rock-bottom) selling price for one of your kidneys be? HOW, PRECISELY, DID YOU ARRIVE AT THIS NUMBER? Justify your answer below by listing your SPECIFIC cost considerations - both monetary and non-monetary-as a supplier. Be sure to show the calculation of your minimum costs that need to be covered. TAKE A SURVEY. Ask five other people (NOT your Economics classmates) what their rock-bottom price would be in order to provide one of their own kidneys TO A STRANGER (this question is NOT about donating to a friend or family member) DO explain to survey participants all of the potential types of costs that you have considered above DO NOT tell survey participants what yow rock-bottom price is -- I may color the responses that you geti Person 1 2 3 Minimum Acceptable Price $ 5 5 5 DID YOU KNOW? in September 1999, donor idmay was put up for auction on 4 According to the artide below bidding reached 55.75 million balore : auction site blocked the sacaran illegal transaction dust something to step in mind if people soy they wouldn't accept ANY price for a kidmayla Auction for a Kidney Pops Up on Khay's Site ba "Hall, Funchal, at 5.000 odobe 1000 load the worly add to uno standby ohanoc hepata alize that not offeral La - hoceto ::.. tia sudits aday buman Trandor: tiden. T. Luba Tunda kaland 4** 10-411-cillir la lalu.. lanzakce, the dialele de calidad, ilus. Huwa LA- We cool the incident or the which becautare: 13 and aria accanto muze tusenduranchote the conducting the Latins olarawan mohonan and Nevir ten me the Linder-114. uglu - v. ------**....swathiuste. & Based on the information that y nchise de senestuminen represent the range of 20:30 er ces in the market are mentrated by e-maiket terese ness. certainly have some subset of the complete range. Perhaps more importantly, we now have information that we did not have before. b. What would be your best guess as to where the equilibrium price would be? support your educated guess with the data that you have collected here, and with intelligent speculation as to whether/why the price would be likely to satisfy the definition of "market equilibrium" (INSTRUCTOR'S NOTE: taking an average of your prices is NOT intelligent speculation, unless you have a powerful explanation as to why that price is likely to satisfy the definition of equilibrium). 5. Who would be the suppliers be in a market for kidneys that was free of price restrictions Le, where the market Price CAN be charged), and what are their incentives to supply this particular commodity? 6. Use the table to list your ideas on potential outcomes (positive & negative) of allowing payments for human kidneys. IMPORTANT NOTE: PLEASE DO NOT WAITE ABOUT prople oft in bathrubs of ice with their kidnostoien. This story son urban legend - you con check for yourse/ httpsnopes.com/factchecvevil S01-19-0-image. This Sort of kidnaly me, for the moment, medicaliy masurable Positive outcomes (BENEFITS) Negative Outcomes (COSTS) CONCLUSION