Question
This is an article from the New York Times (some time ago) about the Covid 19 virus. Shockingly, the same problem persists some n months
This is an article from the New York Times (some time ago) about the Covid 19 virus. Shockingly, the same problem persists some n months later which brings up a questions about externalities. There is no question about the efficacy of the vaccine, and I will make the presumption that saving lives is a shared goal in the economy. The concept of herd immunity is also a reality (more so with the spread of the delta/omicron variant). Suppose there is a significant anti-vaccination segment of the population. Answer the following questions:
1. Does the anti-vaccination segment represent an externality (using the facts above) and why?
2.Is this a positive or negative externality? Why?
3. What would be a possible remedy(to the externality, not the virus) and why would it work?
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