My Child, My Choice If all U.S. children were vaccinated many lives would be saved, infections would be down, and medical costs would be lower. Vaccinations protect not only the kids that receive the shots but also those who can't receive them. Source: Time, June 2, 2008 Draw a graph to illustrate the private market for vaccinations and show the deadweight loss. Draw a demand and marginal benefit curve. Label it D = MB. Draw a supply and marginal cost curve. Label it S= MC. As the quantity of vaccinations increases, the marginal external benefit from each vaccination decreases. Draw a marginal social benefit curve. Label it MSB. 12- 10- 8- 24 0+ 0 Price (dollars per flu shot) 2 4 6 8 10 Quantity (millions of flu shots per season) 12 Q O 2

My Child, My Choice If all U.S. children were vaccinated many lives would be saved, infections would be down, and medical costs would be lower. Vaccinations protect not only the kids that receive the shots but also those who can't receive them. Source: Time, June 2, 2008 Draw a graph to illustrate the private market for vaccinations and show the deadweight loss. Draw a demand and marginal benefit curve. Label it D = MB. Draw a supply and marginal cost curve. Label it S= MC. As the quantity of vaccinations increases, the marginal external benefit from each vaccination decreases. Draw a marginal social benefit curve. Label it MSB. 12- 10- 8- 24 0+ 0 Price (dollars per flu shot) 2 4 6 8 10 Quantity (millions of flu shots per season) 12 Q O 2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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3. Use the graph to answer the question that follows.Assume that the market shown is perfectly competitive with no externalities. If the production output is 15,000 units, then A-the market is allocatively efficient B-there is a shortage of the good C-deadweight loss is being minimized D-deadweight loss is being maximized E- consumer and producer surplus are maximized 5.Use the graph to answer the question that follows. What is the market equilibrium quantity and price at which there is no government regulation? A-15, $17.50 B-20, $15 C-30, $25 D-35, $22.50 E- Indeterminate
Ef 356.
The provided figure shows the deadweight loss associated with negative externalities (ABD). Draw a similar figure to show the deadweight losses associated with positive externalities. Briefly explain. NOTE: take line "price" as the marginal benefit curve
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Why do firms pollute?
Sub : EconomicsPls answer very fast.i ll upvote correct answer . Thank You The figure below shows the market for water-skiing permits on Shuswap Lake in British Columbia. Every person who wishes to water ski must obtain a permit, which is valid for one day. Suppose that each water skier imposes a $4 negative externality on other people who use the lake.
The market for seasonal flu shots is depicted in the graph. As more people receive flu shots, fewer people catch the flu and potentially pass it on to others. Therefore, the chance of catching the flu decreases for everyone, even those who do not purchase a flu shot. This is an example of a positive externality. The graph contains the private demand curve (D1) and the supply curve. D1 does not take into consideration the social benefit of people getting flu shots. Graph the social demand curve by placing the end points of D2 at the correct locations. Then, indicate the dead weight loss to society by placing the DWL triangle in the correct location on the graph. The Market for Flu Vaccinations D2 (marginal soeial benefit) DWL supply D1 (marginal private benefit) Quantity of flu shots Price ($)
30 8 01:12:27 Mc Graw Hill Use the following supply and demand graph to answer the question below. Price 0 ABC D₂ Multiple Choice Quantity S₁ and D₁ represent the current market supply and demand, respectively. S2 and D2 represent the socially optimal supply and demand. One way that the government could shift demand to its socially optimal level is to tax the sellers subsidize the buyers. tax the buyers
Sub : EconomicsPls answer very fast.i ll upvote correct answer . Thank You The figure below shows the market for water-skiing permits on Shuswap Lake in British Columbia. Every person who wishes to water ski must obtain a permit, which is valid for one day. Suppose that each water skier imposes a $4 negative externality on other people who use the lake.
Question 3 Professor Paudel shows the graph for the case of negative externalities in the class. He wants the class to think about positive externalities as well. This got him thinking a lot about potential market failure due to positive production externality in the oil exploration market. Specifically, in his research, he found that expenditures on oil exploration by any company can have a positive externality because they offer more profitable opportunities for other companies. Professor Paudel wants you to enlighten him on the following issues: a) Graphically show private and social marginal cost functions and the demand curve. b) Under positive externalities as mentioned above, is the social marginal cost below than the private marginal cost? Explain and support your answers with the help of a clearly labeled graph. c) Under positive externalities as mentioned above, what's the relationship between social optimum quantity and the competitive market equilibrium quantity? Is there…