Someone please help with these! For number three can you please give me another policy besides subsidy! ALSO PLEASE MAKE SURE TO ADD GRAPHICAL ANALYSIS! Thank you!
ill. (8 points) Written answer, graphical analysis required. The coronavirus pandemic has drawn attention to the importance of vaccinations (and other health care services) for promoting public health and well-being. Draw a supply and demand graph for vaccines that shows a private (individual) market demand curve for vaccines (D) that obeys the law of demand and a market supply curve (5) for vaccines that obeys the law of supply. Label the equilibrium price (P) and quantity (Q) of vaccines produced in the free market. Explain in words and show in your graph the \"spillover benet" that occurs when an individual purchases/receives a vaccine. Label in your graph an M58 curve that shows the marginal social benets of individuals purchasing/receiving a vaccine. Label in your graph the socially efcient level of vaccines (Q*) and compare to the free market output (Q). Explain why the f ree market does not produce the socially efcient amount of vaccines and explain what is meant by a socially efcient level of production. What policy (or policies) would you recommend to create a socially economic efcient level of vaccines? Governments Zero __ On an Essential Ratio Br 8mm Pmuza Goverrunents across Europe and in the US. say they have driven down a key variable to levels that suggest that the lockdowns that plunged their ' economies into the deep freeze are succeeding in con- taining the spread of the deadly new coronavirus. The variable measures the average number of other peo- ple each carrier of the new coronavirus infects. This infec- tion ratio will be avidly watched as policy makers cali- brate the task of rolling back measures that have kept hun' dreds of millions of people at home. ' If the reproduction ratio is below one, the epidemic pe- ters out. The closer to one, the slower the decline, and the j greater risk of a resurgence. If the ratio sticks above one, the epidemic will gathermomen- tum. The good news is across Europe and in parts of the us. the ratio has fallen below one. The trouble is that the spread of the virus is highly sensitive to whether the ratio is just below or just above one. That sensitivity means governments will have to esti- mate how proposed relaxation measures such as opening schools, restarting factories and reopening stores will at- feet the ratio, and they will have to continue to monitor the impact in real time. If the number rises back above one. some restrictions may have to be reimposed. 1n the center of the US. health crisis, New York Gov. Andrew Cuomo said on Sun- day that the infection ratio in the state had been slowed to 0.9, but added, "We have a very small margin of error here as we navigate going for- ward.\" If the reproduction ra- tio were to rise slightly to 1.2. he said, "the virus is increas- ing and is an epidemic and an outbreak and is out of con- trol.\" In Europe, governments have also said they have brought the ratio below one, while emphasizing that the battle against the virus is far from won and that the ratio could surge again. French Prime Minister Edouard Phi- lippe said on Sunday that the variable in France had fallen to 0.6, showing that the spread "is slowing and slow- ing rapidly" thanks to the con- nement measures that have been in place since March 17. The latest ratios represent a signicant decline from the average of three to four that many studies estimate would have been the reproduction ra- tio if nothing had been done. With an unmitigated rate of spread, the serious symptoms of Covid-19, the disease caused by the new coronavirus, suf- fered by a minority of patients would have overwhelmed health systems in most coun- tries. ' . Scientists are still working on models that may help in calibrating measures to relax' the lockdowns. In \"1/21/20 be
