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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) 110 100 90 80 70 60 50 40 30 20 10 01 The total social benefit of 75 doses is 02 0 0 25 50 75 100 125 150 175 200 225 250 Quantity (doses/day)

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) 110 100 90 80 70 60 50 40 30 20 10 01 The total social benefit of 75 doses is 02 0 0 25 50 75 100 125 150 175 200 225 250 Quantity (doses/day)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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
Transcribed Image Text: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
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