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.At the efficient equilibrium

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.At the efficient equilibrium

Quizplus · Accepted Answer

At the efficient equilibrium, the marginal social benefit (MSB) equals the marginal private cost (MPC), resulting in the maximization of economic surplus, which is the difference between MSB and MPC. Therefore, choice A is correct.

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