1. Assuming that state funding for the universities is held constant, describe the conditions that will prevail if tuition is held below equilibrium price. Provide one (1) example to support your response.
Equilibrium is a state of rest, balance, a position which, if attained it will be maintained. As such, if an equilibrium price is one which, if attained in the market, will be maintained, until some disturbing factor causes a change in demand or supply conditions. If tuition is held below equilibrium price, this would be referred to as price ceiling. If state funding for the universities is held constant, then the conditions that will prevail is the no profit for universities and will only benefit customers who gets to obtain the tuition at lower cost as a result universities …show more content…
“The Department of Health and Human Services (HHS) has made significant efforts to enhance production capacity of seasonal influenza vaccines, including supporting manufacturers as they invest in processes to stabilize and increase their production capacity and improving guidance about the approval process at the Food and Drug Administration”. The Government can put in place policies and measures where every schools, business places and random health clinic be given vaccines to vaccinate every member willingly or …show more content…
Describe one (1) reason why the private market for flu vaccinations would produce an inefficient outcome.
The private market for flu vaccinations would produce an inefficient outcome because the private sector is excludable and rival. Only those who are able and willing to pay for it will purchase making production very limited while those who cannot afford may suffer and