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As the state government's policy analyst, you have been asked to conduct a cost-benefit analysis for three options in response to the COVID-19 pandemic: (1)
As the state government's policy analyst, you have been asked to conduct a cost-benefit analysis for three options in response to the COVID-19 pandemic: (1) do nothing, (2) "weak" shutdown, and (3) "strong" shutdown. As the social planner, what COSTS and BENEFITS should you include? example how will it affect vaccination cost, death rates, unemployment.
How would you expect the costs and benefits, in dollar terms and timing, to differ between these options?
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