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a) Identify and discuss how economic theory can assist the company in establishing the market price for the vaccination. What will the firm need to consider if it wishes to maintain its economic profits into the long-run? You should consider the likely market structure as part of your answer. 1
b) A developing country wants to make the vaccination available to its population, but the average income of individuals makes the drug unaffordable to the majority of the population. Discuss whether the government of the country should intervene in the market for the vaccination and how it could attempt to make it available for the majority of the population. You should illustrate your answer with real-life examples wherever possible. 4
a) Identify and discuss how economic theory can assist the company in establishing the market price for the vaccination. What will the firm need to consider if it wishes to maintain its economic profits into the long-run? You should consider the likely market structure as part of your answer.
One of many effective Economics theories of promoting pricing across the
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It should be united with other important aspects that would facilitate with extended access to vaccines like reinforcing ability of health insurance and vaccination delivery processes. How the cost of every tier is calculated by the single vaccine manufacturer can be considered on a lot of aspects such as nature of the product and the customer (Cromwell & Mitchell, 1986). Other factors to consider are the products arrangement, the number of doses ordered, the assurance of the order, the time of the order, the reliability of previous compensation, the rules and regulations of the contract, the transportation process, the duties and tariffs of the relevant country, the supply timetable, and any further services available with the