Suppose That in a Free Market, 2,000 Patients Purchase an Operation

question 160

Multiple Choice

Suppose that in a free market, 2,000 patients purchase an operation to receive an artificial heart at a price of $500,000 per operation.Without the heart, each patient will die.The government decides this price is too high and imposes a maximum price of $200,000.Everything else equal,

• A)more patients will now die.
• B)fewer patients will now die.
• C)more patients will now die only if the demand curve is vertical.
• D)more patients will now die only if the demand curve is horizontal.

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Definitions:

George Herbert Mead

A sociologist and philosopher known for his work on symbolic interactionism, emphasizing the role of communication and symbols in social life.

Hegemonic Power

Refers to the dominant influence or authority that one country or group holds over others, often through cultural, economic, or political means.

Significant Other

A person who plays a highly important role in one's life, often influencing their behavior, emotions, and attitudes.

Generalized Other

An individual's internalized sense of the total expectations of others in a variety of settings, regardless of whether they have been met or not.