Question 7 In the presence of externality, market produces a good or service at the socially optimal level. true false No answer text provided. No answer text provided. Question 8 Market produces flu-vaccine at socially optimal level because vaccine is a private good as such if I take vaccine and remain healthy nobody in the world is benefited by that. True False No answer text provided. CNo answer text provided. Question 9 Market produces education at the socially optimal level True False No answer text provided. No answer text provided.

Question 7 In the presence of externality, market produces a good or service at the socially optimal level. true false No answer text provided. No answer text provided. Question 8 Market produces flu-vaccine at socially optimal level because vaccine is a private good as such if I take vaccine and remain healthy nobody in the world is benefited by that. True False No answer text provided. CNo answer text provided. Question 9 Market produces education at the socially optimal level True False No answer text provided. No answer text provided.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter14: Environmental Economics

Section: Chapter Questions

Problem 2SQ

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Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this flu decreases as more people receive the vaccine. One of the demand curves below represents the private demand for the vaccine and the other represents the social demand for the vaccine. Price (5/dose) 110T 100 90 80 70 60 50 40 30 20 10 0 0 25 50 75 100 125 150 175 200 225 250 Quantity (doses/day) The total social benefit of 75 doses is: D1 02
$20 15 10 1,200 1,500 1,800 2,400 Refer to the figure. The figure represents the market for Covid vaccines with external benefits. The external of vaccination is benefit; $5 cost; $10 cost; $15 benefit; $20
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A market with negative externalities will tend to compared to a market producing the socially optimal output. O overproduce and sell at a lower price O overproduce and sell at a higher price underproduce and sell at a higher price O underproduce and sell at a lower price
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Why is the presentaion of corparate results increasingly accompanied by the presentation of a socially responsible bussines report. Provide 3 reasons