a. If the marginal external benefit is estimated at an additional $8 per vaccination, draw in the MSB curve on the above graphPlot only the endpoints of the curve and position those points on the edges of the graphing area.b. What are the optimal price and quantity from society's point of view?Optimal price: $Optimal quantity. The graph below shows the market for pollo vaccinations in Narnia. The market is presently in equilibriumPrice4032241600020406080100MPBMPC120 140ToolsMSBO

Marginal social benefit is the sum of marginal private benefit and external benefit. This shows that…

Answered: The graph below shows the market for…

The graph below shows the market for polio vaccinations in Narnia. The market is presently in equilibrium a: 40 32 24 MPB MPC Tools MSB

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

Question

a. If the marginal external benefit is estimated at an additional $8 per vaccination, draw in the MSB curve on the above graph
Plot only the endpoints of the curve and position those points on the edges of the graphing area.
b. What are the optimal price and quantity from society's point of view?
Optimal price: $
Optimal quantity.

The graph below shows the market for pollo vaccinations in Narnia. The market is presently in equilibrium
Price
40
32
24
16
00
0
20
40
60
80
100
MPB
MPC
120 140
Tools
MSB
O

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