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Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from both chapters seen this unit such as government intervention, inefficiencies, price elasticity, etc. in your answer. In the first case, assume the medication is for a life threatening illness for which your child has been diagnosed. In a second case, assume the medication is for an improved quality of life issue, such as achieving a healthy weight. What are the impacts that the pharmaceutical company that makes the medications in question will experience? How will that affect the pharmaceutical company’s production decisions? What about its decisions to conduct further research into new drugs?
what output level should you operate to maximize profit? What price should you charge? How much will the industry as a whole produce?
Assume which, in the efficiency wage model, it becomes more difficult for the ?rm to distinguish high-ability workers from low-ability workers in the labor market.
Compute the price elasticity of demand when price changes from $100 to $80 per pair using the average formular.
annual cost of $10,000, and a salvage value of $5,000 after its 10 year life. At an interest rate of 10% per year, what is the capitalized cost of the alternative?
The last doctor hired treated 1,600 extra patients in a year, while the last nurse hired treated 1,000 extra patients in a year.
All this is known to both players. Suppose both players behave according to the level-k thinking model discussed in class. Two players simultaneously guess a number.
If Mutual Fund A held equal amounts of 100 stocks, each of which had a beta of 1.0, and Mutual Fund B held equal amounts of 10 stocks with betas of 1.0, then the two mutual funds would both have betas of 1.0.
Discuss how the two cases Microeconomic influences on McDonald's in China. Drawing on current business publications, find some update facts for each case that support this theme.
q.if a firm faces a shortage of workers with very special skills it may decide to undertake necessary training itself.
can you suggest better methods of making the adjustments for the stated purpose. llustrate what general guide can you suggest as to elucidate how much price should be increased
You are manager of BlackSpot Computers, which competed directly with Condensed Computers to sell high-powered computers to businesses. From the two businesses' prospective, the two products are indistinguishable.
Graphically elucidate how electrical monopolist would determine its profit maximizing price and output level. Identify the area of consumer and producer surplus for the profit maximizing monopoly.
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