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Moderna is the first to discover a Covid-19 vaccine that is said to be effective against all mutations (let's hope that is the case) and
Moderna is the first to discover a Covid-19 vaccine that is said to be effective against all mutations (let's hope that is the case) and as a result it currently possess a monopoly on that type of vaccine. Suppose the marginal cost of producing one dose of the drug is $8, and that the the elasticity of demand for the product is -1.4. What would be the profit maximizing monopoly price for this vaccine?
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