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.

Understand the exceptions to the statute of limitations for various offenses and contracts.

Recognize legal remedies available for contract breaches and violations, including injunctions and specific performance.

Differentiate between various equitable maxims and their applications in law.

Identify the distinctions between specific performance and other legal remedies in contract law.

---

Definitions:

Poly(Ethylene Terephthalate)

A thermoplastic polymer used in fibers for clothing, containers for liquids and foods, and in thermoforming for manufacturing.

Orlon

A synthetic fiber made from a polymer acrylonitrile, used primarily in textiles.

Poly(Acrylonitrile)

A polymer made from acrylonitrile monomers, commonly used in the production of synthetic fibers and plastics.

Hydrolyzed

A chemical process where a compound is broken down into smaller molecules by the addition of water.