Over the last two years, the world has witnesses a dynamic novel coronavirus disease (COVID-19) a...

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Over the last two years, the world has witnesses a dynamic novel coronavirus disease (COVID-19) a pandemic, which has caused a global public health and economic crisis. Global health security requires that the population get vaccinated. a) Based on economic theory, would you classify the vaccine as a private good or a public good? Briefly explain your answer. b) c) he 1 and 2nd Welfare Theorems and based on COVID-19 pandemic explain market failure and its principal determinants. d) Given response to COVID-19 pandemic, explain the changing roles of Kenya government. e) Based of your assessment, has the government failed in its response to COVID-19 pandemic? Explain using economic theory Over the last two years, the world has witnesses a dynamic novel coronavirus disease (COVID-19) a pandemic, which has caused a global public health and economic crisis. Global health security requires that the population get vaccinated. a) Based on economic theory, would you classify the vaccine as a private good or a public good? Briefly explain your answer. b) c) he 1 and 2nd Welfare Theorems and based on COVID-19 pandemic explain market failure and its principal determinants. d) Given response to COVID-19 pandemic, explain the changing roles of Kenya government. e) Based of your assessment, has the government failed in its response to COVID-19 pandemic? Explain using economic theory

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a The vaccine can be classified as a public good based on economic theory Public goods are nonexcludable and nonrival in consumption meaning that once ... View the full answer