Figure 7-2 Figure 7-2 represents the market for vaccinations. Vaccinations are considered a benefit to society, and the figure shows both the marginal private benefit and the marginal social benefit from vaccinations.
-Refer to Figure 7-2. At the efficient equilibrium

Question

Figure 7-2  Figure 7-2 represents the market for vaccinations. Vaccinations are considered a benefit to society, and the figure shows both the marginal private benefit and the marginal social benefit from vaccinations.
-Refer to Figure 7-2. At the efficient equilibrium

Quizplus · Accepted Answer

At the efficient equilibrium, economic surplus is maximized because it is the point where the total benefits to society (consumer and producer surplus) are at their highest.

Figure 7-2 Figure 7-2 Represents the Market for Vaccinations