Figure: Market for Vaccines (Figure: Market for Vaccines) The figure represents themarket for vaccines with external benefits. The market'soutcome generates a(n):

Question

Figure: Market for Vaccines  (Figure: Market for Vaccines) The figure represents themarket for vaccines with external benefits. The market'soutcome generates a(n):

Quizplus · Accepted Answer

The market for vaccines generates a deadweight loss of approximately $750, which occurs because the market equilibrium quantity (3,000 vaccines) is less than the socially optimal quantity (4,200 vaccines). This means that the market fails to allocate resources efficiently, resulting in a loss of welfare for society as a whole. The other choices are not accurate based on the information given in the figure.

Figure: Market for Vaccines (Figure: Market for Vaccines) the Figure