Flu vaccines provide both private benefits to individuals and positive external

Question

Flu vaccines provide both private benefits to individuals and positive external benefits to other members of society. Without government intervention, we would expect: Too many individuals purchasing flu vaccines since the external benefits would not be considered Not enough individuals purchasing flu vaccines since the external benefits would not be considered The socially optimal number of flu vaccines being purchased Steve purchase pizza which costs $3 a slice and Diet Coke which costs %0.75 a can. At his current consumption level, the marginal rate of substitution between pizza and Diet Coke is 6. Given this information, we know that Steve is: Maximizing his utility Consuming too much pizza and not enough Diet Coke Consuming too little pizza and too much Diet Coke Many economists have documented a strong correlation between income and environmental quality across countries - as nations (individuals) become wealthier, they are willing to spend more to protect the environment. Based on this information, environmental quality is a: Normal good Inferior good A private good

Explanation / Answer

1.

Not enough individuals purchasing flu vaccines since the external benefits would not be

even Too few flu vaccines being produced since external benefits would not be considered.

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.