In the context of positive externalities, how do supply and demand curves shift in a market for a good that provides additional benefits to society?

Positive externalities occur when a good or service benefits not just the buyer but also others in society. For example, when someone gets vaccinated, they not only protect themselves from illness but also reduce the chance of spreading disease to others. In a market with positive externalities, the demand curve shifts to the right because more people want the good due to its additional societal benefits. This shift leads to a higher equilibrium price and quantity, encouraging more production and consumption of the good. Ultimately, this helps ensure that the good is produced at a level that reflects its true value to society, not just the individual buyers.