Final answer:
Allowing payment for organs could increase kidney supply but raises ethical issues. This may reduce demand for dialysis machines, potentially decreasing their price. Future technologies like 3D printed organs and stem cell therapies could further address organ shortages.
Step-by-step explanation:
According to the National Kidney Foundation, allowing payment for organs may have a significant impact on the chronic shortage of kidneys available for transplant. Payment for organs could potentially increase the supply of kidneys as more individuals might be motivated to donate due to the financial incentives. However, this approach raises ethical concerns and the risk of exploiting vulnerable populations. Moreover, the increase in supply could result in more transplants and possibly decrease the reliance on dialysis machines.
When sketching a supply and demand diagram to illustrate the effect on the price of dialysis machines, one should consider the elasticity of demand and supply. If the supply of kidneys increases due to financial incentives, it could lead to a reduction in demand for dialysis machines. This reduction in demand, assuming the supply of machines is relatively inelastic, could lead to a decrease in the price of dialysis machines.
Advanced technologies like the 3D printing of organs, as discussed at the TED Conference, and the use of mesenchymal stem cells could also change the landscape of treating kidney failure. Though the full realization of these technologies is years away, they illustrate the potential of innovative solutions to cost-effectively address organ shortages and associated health challenges.