Suppose the Market for Kidneys Is Depicted in the Graph

question 124

Multiple Choice

Suppose the market for kidneys is depicted in the graph shown. Kidneys can only be donated and cannot be sold (meaning price is zero) . How many kidneys are donated in this hypothetical situation?

• A) 0
• B) 900
• C) 2,000
• D) 1,200

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Definitions:

Decision Maker

An individual or group responsible for making choices that determine the course of actions in various situations or organizations.

Sunk Cost

Sunk Cost represents money that has already been spent and cannot be recovered, often considered irrelevant to future economic decisions.

Lure of the New

A phenomenon describing the attraction or preference for novel products, technologies, or ideas over those that are more familiar or traditional.

Appeals to Tradition Fallacy

A logical fallacy that argues something is correct or better simply because it is traditional or has always been done.