We have several vaccine options for controlling COVID-19 spread. Suppose researchers have agreed on the per -person costs (including the drug development costs), and effectiveness of each vaccine. They are summarized below

a.What is the average cost effectiveness ratio for each drug?

b. Graph (using a ruler or excel - try a scatter plot) these treatments and draw a cost effectiveness frontier.

c. Calculate the incremental cost effectiveness ratios for the drugs on the cost effectiveness frontier.

Treatment Per person Cost (million $) Effectiveness (QALY)

Vaccine A 1 13

Vaccine B 4 10

Vaccine C 1.75 8

Vaccine D 0.3 5

Vaccine E 3.5 17