The sale of human organs for transplantation is prohibited in the U.S.-human org

Question

The sale of human organs for transplantation is prohibited in the U.S.-human organs can only be donated. The suppliers of human organs receive a zero price for each organ donated: thus relatively few human organs are supplied. Graphically illustrate the market for human kidneys using a downward sloping demand curve and an inelastic (fixed) supply curve (reflecting the fact that organs cannot be sold). Graphically show and explain what happens with deregulation that allows the sale of kidneys, where suppliers respond to price incentives. Identify the consumer surplus with regulation (when kidneys cannot be sold). Identify consumer surplus without regulation (when kidneys can be sold). Is there a gain or a loss in consumer surplus when the sale of kidneys is allowed?

Explanation / Answer

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