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.

---

Definitions:

Formal Hypotheses

Clearly stated scientific predictions that are testable and specify the relationship between two or more variables.

Discussion Section

Part of academic research papers where findings are interpreted, implications are discussed, and conclusions are drawn.

Results Section

The part of a research paper or report where the findings from the conducted analysis are presented and explained.

Statistical Language

The specialized language, including terminology and symbols, used in statistics for the analysis, interpretation, and presentation of data.