Does inoculation against chicken pox have both private and external benefits?
What will be an ideal response?
Yes, inoculation against chicken pox has both private and external benefits. The individual who is vaccinated benefits because he or she will not catch chicken pox. In addition, everyone who interacts with that person will benefit because they will not catch chicken pox from him or her.
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Which of the following is an example of an import quota?
(A) 621,780 kilograms limit of an imported good. (B) 5 percent of the value of an imported good. (C) $220 per ton of an imported good. (D) 7 percent of the potential profits from an imported good.
Some charge that third-degree price discrimination is unfair or that it reduces social welfare. Why does charging one group a lower price hurt anyone?
What will be an ideal response?