If the United States Changed Its Laws to Allow for the Legal

question 53

Multiple Choice

If the United States changed its laws to allow for the legal sale of a kidney,which of the following is likely to occur?

• A)The price of kidneys would rise to balance supply and demand.
• B)The gains from trade would make both buyers and sellers better off.
• C)Thousands of lives would be saved.
• D)All of the above are correct.

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Definitions:

Reverse Auction

An auction format in which sellers bid to offer goods or services at the lowest price to a buyer, reversing the traditional auction model.

Would-Be Suppliers

Potential providers of goods or services that are considering entering a specific market or supplying a particular customer or company.

Bid Competition

A procurement process where vendors or contractors submit their proposals or bids, competing to win a contract based on price, quality, and/or service criteria.

Upward Pressure

Forces or conditions within a market that cause prices to rise, often due to factors like increased demand, higher production costs, or supply shortages.