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    Suppose that we, as consumers, have the option of having an AIDS vaccine produced by a monopoly or of not having the vaccine produced at all. Under which option would we better off? Why?

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    Producing a vaccine under a monopoly is definitely a better option. If the vaccine is being produced by a vaccine, it will probably be priced too high. However, ...

    Solution Summary

    The solution is concise and to the point and explains the concepts very well. The solution is very easy to understand as well. Overall, an excellent response to the question being asked.