Viral infections such as flu are highly contagious. The number of infections and thus the spread of the disease can be prevented by getting vaccinated. However, the decision to take vaccine is voluntary and some people choose not to go for it for various reasons.] [What type of externality occurs by getting vaccinated against contagious diseases? Explain your answer in 100 words or less.
Viral infections such as flu are highly contagious. The number of infections and thus the spread of the disease can be prevented by getting vaccinated. However, the decision to take vaccine is voluntary and some people choose not to go for it for various reasons.]
[What type of externality occurs by getting vaccinated against contagious diseases? Explain your answer in 100 words or less.
[In a diagram, show the market
[Suggest one method to achieve a socially efficient outcome. Explain your answer in 100 or less words.
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How to draw the market
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