Which of the following statement is false based on information presented in the textbook?
A) There is evidence of a shortage in the market for kidneys (for transplants).
B) The waiting list for transplanted kidneys is used as a non-price rationing device.
C) There is a price ceiling in the market for transplanted kidneys at a price of $0.
D) In the market for transplanted kidneys the legal price is the same as the equilibrium price.
E) It is currently unlawful to buy or sell kidneys at any positive price.

Question

Which of the following statement is false based on information presented in the textbook?
A) There is evidence of a shortage in the market for kidneys (for transplants).
B) The waiting list for transplanted kidneys is used as a non-price rationing device.
C) There is a price ceiling in the market for transplanted kidneys at a price of $0.
D) In the market for transplanted kidneys the legal price is the same as the equilibrium price.
E) ​It is currently unlawful to buy or sell kidneys at any positive price.

Quizplus · Accepted Answer

The statement "In the market for transplanted kidneys the legal price is the same as the equilibrium price" is false. The legal price for transplanted kidneys is $0, meaning there is a price ceiling below the equilibrium price.

Which of the Following Statement Is False Based on Information