1. Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that...
Question:
1. Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this flu decreases as more people receive the vaccine. One of the demand curves below represents the private demand for the vaccine and the other represents the social demand for the vaccine. The private market equilibrium quantity is doses per day.
A. So
B. 75
C. 100
D. 125
2. Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this Ilu decreases as more people receive the vaccine. One of die demand curves below represents the private demand for the vaccine and the other represents the social demand for the vaccine.
3. Refer to the figure below. Private markets will provide ___ units of this good per day, and socially optimal number of units per day is ____.