MBA 501 ECON Pre-Class Exercise (This is a graded assignment!

) Due Tuesday August 27 before 9:00PM Before completing this assignment, you should read Chapter 1 of the Landsberg text to give yourself at least some initial exposure to how supply and demand operate in competitive markets. After you have read Chapter 1 (and noting that you are also required to read Chapter 2 and take the online quiz before the same Tuesday 9pm deadline), you should then read the article Introducing Incentives in the Market for Live and Cadaveric Organ Donations. This paper was co-authored by Gary Becker, a Nobel Laureate in economics and (in my opinion) one of the ten most important and influential living economists. After you have read the article, please submit (VIA COMPASS!) answers to these three questions. 1. Please provide a ranked list (1= most important) of the three most important advantages / positives to legalizing the sale of human kidneys and livers in the U.S. Please be concise: 2-3 sentences per advantage should be sufficient. 2. Please provide a ranked list (1= most important) of the three most important disadvantages / negatives to legalizing the sale of human kidneys and livers in the U.S. Please be concise: 2-3 sentences per advantage should be sufficient. 3. Taking into account the positives and the negatives, please indicated with a ONE WORD response whether you FAVOR or OPPOSE the legalization of organ sales in the U.S. We will spend part of our class time on Wednesday debating this issue.