Figure 11-8 Figure 11-8 shows the market for measles vaccinations, a product whose use generates positive externalities.
-Refer to Figure 11-8.What is the market equilibrium output level?

Question

Figure 11-8  Figure 11-8 shows the market for measles vaccinations, a product whose use generates positive externalities.
-Refer to Figure 11-8.What is the market equilibrium output level?

Quizplus · Accepted Answer

Market equilibrium occurs where the quantity supplied equals the quantity demanded. At this point, the market is in balance and there is no tendency for prices or quantities to change. In Figure 11-8, the market equilibrium output level is Q1.

Figure 11-8 Figure 11-8 Shows the Market for Measles