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BUSINESS (C13V) ASSIGNMENT 04 - Politicians are often heard saying

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Subject: Economics
Due on: 07/06/2017
Posted On: 07/06/2017 05:51 AM

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ASSIGNMENT 04
C13 Microeconomics
APA format. Your response should be four (4) double spaced pages; refer to the "Assignment Format" page located on the Course Home page for specific
format requirements.
Part A
Politicians are often heard saying that tuition at state universities should be kept low "to make education
equally accessible to all residents of the state, regardless of income."
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.
2. Will education really be "equally accessible" under these conditions? Provide one (1) example to
support your response.
Part B
Using the Internet, research the influenza vaccine, or "flu shot." Use the following to guide your
research:
a. Think about the flu shot in the context of a public good.
b. What are the economic benefits of the flu shot?
c. In what ways has the government become involved in the distribution of flu shots? For what
reasons?
1. Describe one (1) reason why the private market for flu vaccinations would produce an inefficient
outcome.
2. Describe one (1) way that government involvement could achieve an efficient quantity of
vaccinations.
3. Provide one (1) original example for each of the following:
a. a private good
b. a public good.
Grading Rubric
Please refer to the rubric on the following page for the grading criteria for this assignment.
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BUSINESS (C13V) ASSIGNMENT 04 - Politicians are often heard saying

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