(Solution Document) In 2004, approximately half of the flu vaccine was contaminated and needed to be destroyed.


1.    In 2004, approximately half of the flu vaccine was contaminated and needed to be destroyed.

a.     Explain what impact this would have on market prices for flu vaccines based on supply and demand analysis.

b.     Provide a description of an alternative non-price rationing mechanism if prices were not allowed to rise.

b.     Which method of rationing do you prefer in this case and why (price rationing compared to your alternative mechanism)?

 







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