The Centers for Disease Control and Prevention (CDC) recommended against vaccinating the whole population against the smallpox virus because the vaccination has undesirable, and sometimes fatal, side effects. Suppose the accompanying table gives the data that are available about the effects of a smallpox vaccination program.Percentage of population vaccinatedDeaths due to smallpoxDeaths due to vaccination side effects0%20001018042016010301401840120335010050608074a. Calculate the marginal benefit (in terms of lives saved) and the marginal cost (in terms of lives lost) of increasing the percentage of the population vaccinated from 20% to 30%. In addition, calculate the net increase in human lives.MB: lives savedMC: lives lostNet benefit: lives saved b. Using marginal analysis, determine the optimal percentage of the population that should be vaccinated.Optimal percentage: %

The table given in the question shows the percentage of people vaccinated. Also, it shows that due…

Answered: The Centers for Disease Control and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The Centers for Disease Control and Prevention (CDC) recommended against vaccinating the whole population against the smallpox virus because the vaccination has undesirable, and sometimes fatal, side effects. Suppose the accompanying table gives the data that are available about the effects of a smallpox vaccination program.

Percentage of population vaccinated	Deaths due to smallpox	Deaths due to vaccination side effects
0%	200	0
10	180	4
20	160	10
30	140	18
40	120	33
50	100	50
60	80	74

a. Calculate the marginal benefit (in terms of lives saved) and the marginal cost (in terms of lives lost) of increasing the percentage of the population vaccinated from 20% to 30%. In addition, calculate the net increase in human lives.

MB:

lives saved

MC:

lives lost

Net benefit:

lives saved

b. Using marginal analysis, determine the optimal percentage of the population that should be vaccinated.

Optimal percentage:

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