Because of the Positive Externality of Vaccinations, Economic Efficiency Would

question 164

Multiple Choice

Because of the positive externality of vaccinations, economic efficiency would be improved

• A)if fewer people were vaccinated.
• B)if more people were vaccinated.
• C)only if all people were vaccinated.
• D)only if no people were vaccinated.

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Definitions:

Additional Unit

Refers to one more quantity of a good or service added to previous totals, often in contexts discussing costs or benefits.

Complementary Resources

Productive inputs that are used jointly with other inputs in the production process; resources for which a decrease in the price of one leads to an increase in the demand for the other.

Price Decrease

A reduction in the monetary value that must be paid for a product or service.

Resource Demand Curve

A graphical representation showing the relationship between the price of a resource and the quantity of that resource that firms are willing to employ, holding all other factors constant.