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Researchers have developed a series

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Researchers have developed a series of new tests aimed at detecting and removing infections from donated blood before it is used in transfusions. The obvious benefit of these tests is to reduce instances of infection through blood transfusions. The report indicates that the currect price of decontaminated blood is $80 per pint. However, if the new screening methods are adopted, the demand and supply of decontaminated blood will change to Qd=175-P and Qs=2P-200. What price do you expect to prevail if the new screening methods are adopted? How many units of blood will be used in the united states? What is the level of sonsumer ans producer surplus? Illustrate your finding in a graph.

 

Paper#28938 | Written in 18-Jul-2015

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