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2a.[4] A medication capsule is not shareable: whatever one person consumes cannot be consumed by anyone else. Explain why such a medication is not a
2a.[4] A medication capsule is not shareable: whatever one person consumes cannot be consumed by anyone else. Explain why such a medication is not a pure private good. Which requirement in the definition of a pure private good is not satisfied by a medication capsule? Explain. b. [4] Describe an input that is shared in the production of the medication capsule in part a. This means that the exact same input (not the same type of input) enters the production of many different capsules. Explain how the input is shared by the different capsules if that is not obvious c.[5] Consider the period that starts on the date when the Federal Drug Administration (FDA) approves a medication for production and sale and ends five years after the first capsule is sold. During this period, the seller's AUC may be higher than its PMC. Is this inequality (AUC> PMC) more likely to hold for a typical new medication than for an exceptionally popular new medication? Justify your
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