Question: For immunization, assuming the market is perfect competition, assuming that each citizen buys their own immunization, assuming also that there is an equal number of

For immunization, assuming the market is perfect competition, assuming that each citizen buys their own immunization, assuming also that there is an equal number of older adults (+65 years old) and younger adults (18-22 years old) and same vaccination is given to all age groups and equally effective for each age group.

Why is the rate of immunizations is lower than socially optimal?

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