Fully vaccinating all U.S. children born in a given year saves 33,000 lives, prevents 14 million infections,
Question:
a. Describe the private benefits and external benefits of vaccinations and explain why a private market for vaccinations would produce an inefficient outcome.
b. Draw a graph to illustrate a private market for vaccinations and show the deadweight loss.
c. Explain how government intervention could achieve an efficient quantity of vaccinations and draw a graph to illustrate this outcome.
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a The private benefit is that the child who is vaccinated is protected from an ailment The external benefit is that others also are protected because ...View the full answer
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