Assignment 04 Microeconomics

Order Description

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.

Writing Style APA (American Psychological Association)

Note: To find detailed information on APA manuscript style guidelines on the Internet, go to

www.apastyle.org.

Margins 1” all sides

Paragraph The entire document should be double-spaced on standard-sized paper (8.5″ x 11″)

Headings Bold

Type Style and Size Times New Roman, 12 point

Software MS Word

Student/Assignment Information

The following information should be on the first page on the top left side of the page in the

format provided below. Do not provide a cover sheet.

Student Name

Student Identification Number

Course Number and Title

Assignment Number and Title