Homework 4
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Flu shots provide a positive externality. Suppose that the market for vaccinations is perfectly competitive. Without government intervention in the vaccination market, which of the following statements is correct?
At the current output level, the marginal social benefit exceeds the marginal private benefit.
Which of the following goods is rival in consumption and excludable?
a)a movie in an empty theater b) a movie shown on cable television. c)an outdoor movie shown at a public park ***d) a DVD
A pizza is
excludable and rival in consumption
A vacation home in Malibu is
rival in consumption and excludable
