Nice example of how a price ceiling imposed by law creates a shortage of a good. Federal Law sets a price of $0 dollars for the price paid to the donor of a kidney. Hence, the quantity supplied is going to be much less than it otherwise might/would be.
The graph below shows the quantity demanded for kidneys is much greater than the quantity supplied at a price of $0. I have a more detailed posting (with Supply and Demand graphs!) HERE.
If people were allowed compensation for kidney donations would the quantity supplied increase? Would this be a more socially desirable outcome? What are some additional positive and negative implications of allowing the sale of kidneys?
Keep in mind, the gap between the lines represent people NOT getting a transplant.
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| Source: Carpe Diem |
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