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Identify a government policy that would produce an efficient level of output in the vaccine market....

Identify a government policy that would produce an efficient level of output in the vaccine market. Show, graphically, and with words, how the policy achieves the efficient level of output.

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Answer #1

Vaccine can be considered as a positive externality and in this regard in order to correct the positive externality regarding the production and consumption levels the government must actually motivate the producers to produce more amount of vaccine as a result of which government policy such as subsidies can actually increase the supply level so that the efficient level of output is reached as shown in the figure

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