Answered step by step
Verified Expert Solution
Question
1 Approved Answer
R-Most antibiotics used in the world are consumed by farm animals, who are often fed these medicines to promote growth or to prevent disease, not
R-Most antibiotics used in the world are consumed by farm animals, who are often fed these medicines to promote growth or to prevent disease, not because they are afflicted with a specific illness. Any use of antibiotics contributes to the development of pathogens that are resistant to it, and many antibiotics that were once effective in promoting human health have lost their effectiveness because of the development of resistant strains. Worldwide, antibiotic consumption by farm animals continues, and at the current pace is expected to render more and more antibiotics ineffective. What kind of market failure is this? (O Market power (O Moral hazard (O Externalities (O Adverse selection O Animal power Suppose the US government decides to address the market failure in question A in a Pigouvian way. What would that look like? (O Aban on use of antibiotics for farm animals (O Atax on antibiotics equal to the expected external damage that they would cause (O Atax on syringes used to administer antibiotics to farm animals () Freeing all farm animals and making them members of Congress, replacing the current members
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started