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Suppose an unvaccinated man Tom would get $10 of private benefit out of a flu shot. The flu shot costs $20 at the local clinic.
Suppose an unvaccinated man Tom would get $10 of private benefit out of a flu shot. The flu shot costs $20 at the local clinic. The herd immunity benefit of the shot is worth an additional $15 to Tom's friends and coworkers. (1) What is the private cost incurred when Tom gets the shot? (2) Is it privately efficient for Tom to get the shot? (3) What is the public or social cost incurred when Torn gets the shot? (4) What is the public or social benefit when Torn gets the shot? (5) Is it publicly/socially efficient for Tom to get the shot? Hint: please consider only the information provided in the question. Any other potential cost or benefit can be ignored. Please explain your answers. Do not simply provide a Yes or No as the answer. If it involves calculations, show your steps
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