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The makers of Tylenol pain reliever do a lot of advertising and have very loyal customers. In contrast, the makers of generic acetaminophen do no advertising, and their customers shop only for the lowest price.
Assume that the marginal costs of Tylenol and generic acetaminophen are the same and constant.
a. Draw a diagram showing Tylenol’s demand, marginal-revenue, and marginal-cost curves. Label Tylenol’s price and markup over marginal cost.
b. Repeat part (a) for a producer of generic acetaminophen. How do the diagrams differ? Which company has the bigger markup? Explain.
c. Which company has the bigger incentive for careful quality control? Why?
Sometimes market activities have unintended positive or negative effects outside the market scope called externalities. As a rule maker concerned with correcting effects of gases
Prove that if the value of G is v1 and the value of H is v2 , then the value of G + H is v1 + v2 . Give an example of G, H which only have a common row strategy, but for which G + H has a different value than v1 + v2.
one reason for rising interest rates was the prospect of a refinancing issu; a $12 billion issue matures April 1 , and the governmoent is expected to seek some new money ,in excess of its refinancing needs. why dosent the government get the center..
Find out the market structure (competition, monopolistic competition, oligopoly, and monopoly) that best characterizes the infant formula industry.
Identify an organization in that industry. Identify the market structure in which this organization competes. Clearly indicate why the market structure was decided upon, and how this market structure differentiates from the other alternatives.
Suppose that Densa Inc. falls 10 percent short of producing the profit maximizing output. Would a higher product price lead to greater output Would an increase in input prices lead to a reduction in output
When a perfectly competitive firm finds that its market price is below its minimum average variable cost, it will sella. any positive output the entrepreneur decides upon because all of it can be sold. b. nothing at all; the firm shuts down c. the ou..
Describe the opportunity and accounting costs of "Going Green." Use a specific example to illustrate your point. For example, purchasing a Chevy Volt.
The Government and Social Responsibility
Given the mixed messages of the CEO's speech and the home office corporate culture, does the company produce managers or leaders? Show your work using game theory.
Explain in detail. Who are the past and present charimen. Why was the current chairman in the news recently and what did he propose?
What will be the effect of the following events on the market for French wine and the quantity consumed? Distinguish between the short-run and the long-run impact.
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