Figure 5-1
Figure 5-1 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 5-1.Marginal private benefit is represented by which curve?

Question

Figure 5-1
  Figure 5-1 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 5-1.Marginal private benefit is represented by which curve?

Quizplus · Accepted Answer

Marginal private benefit refers to the benefit received by an individual as a result of consuming one more unit of a good or service. In this case, it refers to the benefit received by an individual from getting vaccinated. The curve that represents this is D₁, as it shows the relationship between the price of the vaccination and the quantity of vaccinations demanded by individuals, indicating the amount they are willing to pay for each unit of vaccination.

Figure 5-1 Figure 5-1 Represents the Market for Vaccinations. Vaccinations