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. The efficient equilibrium quantity is ________ thousand vaccinations.

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. The efficient equilibrium quantity is ________ thousand vaccinations.

Quizplus · Accepted Answer

The efficient equilibrium quantity is where the marginal social benefit equals the marginal social cost. In this context, it is given as 600 thousand vaccinations.

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