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A: Hey, thanks for the question. Since you have posted multiple questions we will answer one the first…
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Q: What are the perceived private costs and benefits of taking a COVID vaccine from the perspective of…
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Do COVID-19 Vaccines create external benefit? Why? Then should the government subsidize this activity?
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- Consider an infectious disease such as the flu which is spread primarily through virus particles in aerosolized respiratory droplets of already infected people. a In the midst of an infectious disease epidemic of this sort, is it privately rational for people to limit their exposure to other people, perhaps by staying home from work or not going to school? b An infected person who goes out into public areas and does not take precautions to contain their respiratory emissions clearly poses a negative externality on those around them. Does an uninfected person going out into public areas also pose a negative externality? c For a particularly severe disease outbreak of this sort, one possible government response is to exaggerate to the public both the harm that might arise from contracting the disease and the likelihood of contracting the disease. In what ways might such a strategy reduce the harm to the public from the disease epidemic? In what ways might such a strategy increase the…Will the Vaccines Bring the US Economy Near to Recovery?Which of the following are examples of negative externalities? A. Reduced spread of COVID-19 and other infectious diseases from people physically distancing and wearing masks. B. Unsightly oil rigs offshore from Santa Barbara, diminishing the quality of the view for beachgoers and coastal homeowners. C. Reduced incidence of the common flu stemming from more people obtaining flu shots during the Fall. D. Reduced crime rates stemming from rapid economic growth and reduced unemployment. E. High gas prices caused by rapid demand growth in China. F. Job losses associated with a factory closure in the United States, because a factory was opened in Mexico to replace it. G. Noise from traffic on a busy street. H. Light pollution from cities making it more difficult for observatories to view distant stars. I. Noise pollution eminating from windmills on the North Shore of Oahu. J. Pollution emissions from power plants.
- Concerts in arenas are not excludable because it is virtually impossible to prevent someone from seeing the show. a. True b. False.What 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.Which of the following makes it less likely that private solutions to externalities will succeed? Select the best answer. high transaction costs free legal services low transaction costs a small number of affected parties
- how does the covid vaccination affect or influence one’s personal & family health. how does it affect society as well?Indicate whether the statement is true or false, and justify your answer.In the presence of externalities, private and social welfare diverge.Efficiency in the presence of externalities
- How can you relate the changes in vaccines to overall growth in the economy and the production possibilities curve?Why the presence of the product variety externality does imply that there is too little entry of new firms in the market?There would be a potential market failure if a good was a. nonexcludable, but not if it was both excludable and nonrival b. nonrival, but not if it was both rival and nonexcludable c. both nonrival and nonexcludable, but not if it was either rival or excludable d. either nonexcludable or nonrival Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.