II. Considering that a controlled economy like China has been far more successful in dealing with the Corona Pandemic than a liberal economy like the US, would you say that this is a case of market failure? How does this pandemic represent an externality?

As the inventor of hypertension medication, onesure pharmaceuticals (osp) inc. was able to reap the benefits of economies of scale due to a large consumer demand for the drug. even when competitors later developed similar drugs after the expiry of osp's patents, regular users did not want to switch because they were concerned about possible side effects. which of the following benefits does this scenario best illustrate? a. first-mover advantages b. social benefits c. network externalities d. fringe benefits