The figure above shows the market for annual influenza immunizations the United States. The market equilibrium with no government intervention is ________ because health care generates ________
A) efficient; positive external benefits
B) inefficient; positive external benefits
C) inefficient; positive external costs
D) efficient; positive external costs
E) inefficient; public goods
B
Economics
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Refer to the scenario above. If the rules of the gamble are changed such that in the case of heads, the individual wins $100, and in the case of tails, the individual loses $50, the expected value of the gamble changes to:
A) $0. B) $25. C) $50. D) $75.
Economics
Which fundamental economic question requires society to choose the technological and resource mix used to produce goods?
A. The What to Produce question. B. The Why to Produce question. C. The How to Produce question. D. The For Whom to Produce question.
Economics