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Suppose a virus is rapidly spreading around the world.The most effective way to combat the virus is to inoculate as many people as possible with
- Suppose a virus is rapidly spreading around the world.The most effective way to combat the virus is to inoculate as many people as possible with a particular vaccine.As such, suppose all governments agree to pay for all costs associated with getting everyone vaccinated. In short, anyone may get vaccinated at a zero price.
Despite the zero price, suppose your best friend Biff is willing to pay to get the vaccine sooner rather than later. If he gets the vaccine, will Biff realize more, less, or the same amount of consumer surplus as any other individual? Explain in under page.
Is the vaccine a public good in this question? Explain in under page.
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