Economics in the News K April 14, 2020 Market for Measles Vaccinations First study the news article linked below. 25 117 million children risk missing measles vaccines due to COVID-19 pandemic S . . . 20- 4. Why is a world vaccination rate of 100 percent inefficient? 15- A world vaccination rate of 100 percent is inefficient because at that rate Price and cost (dollars per vaccination) O A. marginal social cost equals marginal social benefit 10- O B. marginal social cost exceeds marginal social benefit O C. marginal social benefit exceeds marginal social cost 5 - 5. Graphing Question The graph shows the supply curve of measles vaccinations. 0- Draw the marginal private benefit curve and label it MPB. 100 200 300 400 500 Draw the marginal social benefit curve and label it MSB. Quantity (thousands of vaccinations per year) Draw a point to show the quantity of vaccinations and the marginal social cost when people do not consider the externality. Label it P1. Draw a point at the efficient equilibrium when people consider the externality that results from receiving a measles vaccination. Label it P2