Use the table below to answer the following questions.Table 3 a) Refer to Table 3. The table shows marginal private benefit and the marginal social benefit from flu vaccinations and the marginal social cost of vaccination production. What is the value of the marginal external benefit per unit?b) Refer to Table 3. The table shows marginal private benefit and the marginal social benefit from flu vaccinations and the marginal social cost of vaccination production. If production is left to the private market, the quantity produced is:c) Refer to Table 3. The table shows marginal private benefit and the marginal social benefit from flu vaccinations and the marginal social cost of vaccination production. If production is left to the private market, the market price is:d) Refer to Table 3. The table shows marginal private benefit and the marginal social benefit from flu vaccinations and the marginal social cost of vaccination production. An efficient quantity is produced only if the government do what? Explain Table 3Marginal Private Marginal Social Marginal SocialBenefitBenefitCostOutput(units)(dollars)(dollars)(dollars)100802017030902604080350507044060605307050208040

Marginal social cost (MSC) is the total costs society pays for the production of another unit or for…

Answered: the following questions. Table 3…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use the table below to answer the following questions.

Table 3

a) Refer to Table 3. The table shows marginal private benefit and the marginal social benefit from flu vaccinations and the marginal social cost of vaccination production. What is the value of the marginal external benefit per unit?
b) Refer to Table 3. The table shows marginal private benefit and the marginal social benefit from flu vaccinations and the marginal social cost of vaccination production. If production is left to the private market, the quantity produced is:
c) Refer to Table 3. The table shows marginal private benefit and the marginal social benefit from flu vaccinations and the marginal social cost of vaccination production. If production is left to the private market, the market price is:
d) Refer to Table 3. The table shows marginal private benefit and the marginal social benefit from flu vaccinations and the marginal social cost of vaccination production. An efficient quantity is produced only if the government do what? Explain

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