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Drug company Halfdan develops a Covid Vaccine for the Iceland market. Development costs were $ 100m. The marginal cost of each vaccine is $2,000. Demand

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Drug company Halfdan develops a Covid Vaccine for the Iceland market. Development costs were $ 100m. The marginal cost of each vaccine is $2,000. Demand is Q = 40 - 2P, were P and Q are measured in 000. (1) What is the profit maximizing price for Halfdan? [ Select ] (2) What is the profit maximizing quantity for Halfdan? [ Select ] (3) What is the socially efficient price? [Select ] (4) What is the socially efficient quantity? [ Select ] (5) What is the deadweight loss from Halfdan's profit maximizing pricing policy? [ Select ] (6) What is Halfden's revenue at the profit maximizing price? [Select ] (7) What is Halfdan's net profit from the creation of the vaccine (revenue minus production and development costs)? [ Select ] (8) What is the net social gain from the development of the vaccine at the efficient price? [ Select ] (9) What payment by the Iceland government would be the lowest to persuade Halfdan to sell them the rights to the vaccine? [ Select ] (10) What is the deadweight loss if the government buys the rights to the vaccine, but then distributes it free as opposed to at a price of the marginal cost? [ Select ] (11) What is consumer surplus at the profit maximizing price? [Select ]

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