Assignment 04 Microeconomics
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
2. Will education really be “equally accessible” under these conditions? Provide one (1) example to support your response.
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″)
Type Style and Size Times New Roman, 12 point
Software MS Word
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 Identification Number
Course Number and Title
Assignment Number and Title