Problem
The mayor of Gotham City, worried about a potential epidemic of deadly influenza this winter, asks an economic adviser the following series of questions. Determine whether a question requires the economic adviser to make a positive assessment or a normative assessment.
a. How much vaccine will be in stock in the city by the end of November?
b. If we offer to pay 10% more per dose to the pharmaceutical companies providing the vaccines, will they provide additional doses?
c. If there is a shortage of vaccine in the city, whom should we vaccinate first-the elderly or the veryyoung? (Assume that a person from one group has an equal likelihood of dying from influenza as a person from the other group.)
d. If the city charges $25 per shot, how many people will pay?
e. If the city charges $25 per shot, it will make a profit of $10 per shot, money that can go to pay for inoculating poor people. Should the city engage in such a scheme?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.