Author Question: Refer to Figure 3-5. At a price of 15, the quantity sold A) is 2 units. B) is 4 units. C) is 6 ... (Read 110 times)

geodog55

  • Hero Member
  • *****
  • Posts: 530
Refer to Figure 3-5. At a price of 15, the quantity sold
 
  A) is 2 units. B) is 4 units.
  C) is 6 units. D) cannot be determined.

Question 2

What is an externality? Explain how someone receiving a meningitis vaccination is an example of an externality in the market for health care.
 
  What will be an ideal response?


joshraies

  • Sr. Member
  • ****
  • Posts: 351
Answer to Question 1

A

Answer to Question 2

An externality is a benefit or cost that affects someone who is not directly involved in the production or consumption of a good or service. Someone who receives a meningitis vaccination is protecting not just himself or herself from the disease, but also reduces the chances that people who have not been vaccinated will contract the disease. In this case, receiving the vaccination provides a positive externality.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

For a complete list of videos, visit our video library