Overview
See recommended videos about Externalities and Public Goods under Modules.
read about public goods and externalities in your chosen textbook. (OpenStax Chapter 12.1 -12.4 & 13). here is the link for the book i chosen https://openstax.org/details/books/principles-micr...
Then answer the following questions using economic thinking (whether or not you agreed with Centers for Disease Control and/or government recommendations/mandates) during the Covid-19 pandemic.
(1) Indicate how you would fill in the following chart about externalities associated with Covid-19:
| Virus-Related Circumstance | Positive or Negative Externality? | Cite a Possible Solution and/or Consequence |
| A. Contagion | ||
| B. L.A. Traffic/The Environment | ||
| C. Overall Economic Output | ||
| D. Shelter-in-Place Orders | ||
| E. Getting a Covid-19 Vaccine |
(2) Explain how the choice of wearing or not wearing a mask during the Covid-19 epidemic could create a public good and also "free riders".
(3) Propose a possible corrective tax or subsidy that might be useful for reducing an externality or free rider problem associated with the pandemic.
I post another two video's name on the pictures