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True or false Consider the following scenario for questions 710. A new vaccine against a deadly disease has just been discovered. Presently, 55 people die
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Consider the following scenario for questions 710. A new vaccine against a deadly disease has just been discovered. Presently, 55 people die from the disease each year. The new vaccine will save lives (its benefit), but it is not completely safe. Some recipients of the shots will die from adverse reactions (its cost). The projected effects of the inoculation are given in the accompanying table: 7. The marginal benefit can be interpreted as the additional lives saved due to inoculation. 8. The marginal cost is the additional deaths due to inoculation. 9. People should be inoculated until the marginal cost equals the marginal benefit from the inoculations. This occurs when MB=MC=5, at which point 50% or 60% of the population should be inoculated (both result in the greatest number of lives saved). 10. "Prolit" is total lives saved minus total lives lost. The profit at each level of inoculation in the population is shown in the table. The maximum number of lives saved is 30 , which occurs at inoculation levels of both 50% and 60%Step by Step Solution
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