Question
Hello, I need help with these questions please Market for COVID 19 Vaccines Price Quantity Demanded Quantity Supplied 0 400,000 0 $25.00 375,000 50,000 $50.00
Hello, I need help with these questions please
Market for COVID 19 Vaccines
Price Quantity Demanded Quantity Supplied
0 400,000 0
$25.00 375,000 50,000
$50.00 200,000 75,000
$70.00 100,000 100,000
$90.00 50,000 200,000
$150.00 15,000 300,000
1.What is the market equilibrium price and quantity for COVID 19 vaccines?
2.At the price of 0, how many COVID 19 vaccines are consumers willing to take?
3.Does a shortage exist at a price of 0?If so, how much is the shortage?
4.Does a surplus exist at a price of $90.00?Is so, how much is the surplus?
5.If the government does not want there to be a shortage or surplus, what price should the government allow suppliers to charge for a COVID 19 vaccine?
6.What externalities exist in the market for COVID 19 vaccines?Use these externalities to explain why the government would sponsor (set the price at 0) for COVID 19 vaccines.
7.If a new vaccine is approved, what will happen to the equilibrium price and quantity of vaccines?
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