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Business, 07.10.2021 14:00 levon15

Currently, there are chronic shortages of transplantable human organs. Waiting lists are long, and many of those waiting die before an organ becomes available. 1. Would it be more efficient than current arrangements if we were to allow an open market for buying and selling of human organs to develop? Be sure to consider · how scarce human organs are currently rationed among people who want them · the current arrangements for eliciting a supply of human organs and · the economic definition of efficiency 2. Would a market for human organs increase social welfare or reduce it? Explain, using the course concepts of producer and consumer surplus.

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