For each of the goods listed below, discuss whether the good is likely to entail an external
Question:
For each of the goods listed below, discuss whether the good is likely to entail an external cost or an external benefit. In addition, discuss whether the market is likely to provide more or less than the socially optimal quantity of the good.
a. Vaccinations.
b. Cigarettes.
c. Antibiotics.
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a Vaccinations Vaccinations are probable to have an external benefit because they not only protect t...View the full answer
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Related Book For
Principles Of Economics
ISBN: 9781266052309
8th Edition
Authors: Robert H. Frank, Ben Bernanke, Kate Antonovics, Ori Heffetz
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