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.
a
Economics
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The social interest theory of regulation assumes that
A) regulations favor voters over producers. B) regulations promote the attainment of competitive output. C) public officials seek to keep their jobs. D) public officials favor consumers over producers.
Economics
Special interests are _____ on political issues where they may receive concentrated benefits
a. stable b. cyclical c. rationally ignorant d. not rationally ignorant
Economics