Are vaccines considered as public good? Show in graphical explanation or representation. 2. Should vaccines be mandatory? Show in graphical explanation or representation.
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1. Are vaccines considered as public good? Show in graphical explanation or representation.
2. Should vaccines be mandatory? Show in graphical explanation or representation.
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- Public good is a good or service that can be consumed simultaneously by everyone and from which no individuals can be excluded. So, is health care a public good?Assuming no transaction costs, which legal rule best harnesses private information to deal with externalities? A. A liability rule B. A property rule C. An inalienability rule D. CriminalizationDo COVID-19 Vaccines create external benefit? Why? Then should the government subsidize this activity?
- For a pollutant like lead, which causes health effects to local residents even at very low levels, which regulatory approach would be most effective for eliminating any health threats? Question 4Select one: a. Emissions standards b. Tradable permits c. Pollution taxes d. Pollution subsidies e. EcolabelingWhat are the perceived private costs and benefits of taking a COVID vaccine from the perspective of the following groups? (These will likely differ by group but there can be costs and benefits for both groups). Do these benefits outweigh the costs for each group? a. People willing to take the vaccine. b. Vaccine-hesitant individuals.Provide a subsidy for the vaccination Government produces and operates vaccination centers, where vaccines are provided at no charge. Impose a regulation, requiring the people of the nation to get the vaccination Explain the potential unintended consequences of each one of these polices. Which policy would you enact and why?
- Roommates D, E and F can buy paintings at $30 each for their dorms. Marginal benefits are MB of D = 100 - 2Q, MB of E = 200 - Q, MB of F = 300 - 2Q. a. What are the 2 properties of a public good? b. Explain the Free Rider problem. c. Aggregate the demand curves(vertical sum). d. Why are there kinks in the market demand curve? e. Calculate and illustrate the optimal quantity for this good? f. How should the costs of purchasing this quantity be allocated between the buyers?Which among the following is a characteristic of a public good? Select one: a. Free rider problem b. Demand curve is the horizontal summation of the individual demand curves c. None of the answers is correct d. Rivalry e. Excludability7. Critically evaluate the following statement: Health is a public good?
- Since healthcare is provided by the NHS in the UK, it is a public good rather than a private good. Question 25Select one: True False Question text If a good is excludable and has a near-zero marginal cost, it is probably a club good. Question 26Select one: True False Question text Given that there is a limited quantity of pollution we can add to the Earth's atmosphere before it becomes degraded, we can regard the air as a common-pool resource. Question 27Select one: True False Question text Positive externalities can cause Pareto-inefficiency. Question 28Select one: True False1. Governments and pharmaceutical companies rushed quickly ahead to develop a vaccine. Vaccinations and immunizations are examples of positive externalities. A positive externality is when an activity creates a benefit for those who are not involved in the transaction, a third party. Let’s examine the vaccination of Covid-19 as a positive externality. Question: Why is the Covid-19 vaccination considered a positive externality? 2. Considering the information provided and your responses to Question 3 explain the potential unintended consequences of each one of these polices. Which policy would you enact and why?Knowledge creates positive externality; therefore, governments should intervene in the education sector. What is the intervention action of governments for efficiency to gain from external benefits? Please explain each of these interventions with a clear example for each.