Suppose That a Vaccine Is Developed for a Highly Contagious

question 47

Multiple Choice

Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this flu decreases as more people receive the vaccine. One of the demand curves below represents the private demand for the vaccine and the other represents the social demand for the vaccine. At the private market equilibrium, the price of each dose is:

• A)$50.
• B)$60.
• C)$70.
• D)$80.

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