Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
You are the manager of a small pharmaceutical company that received a patent on a new drug three years ago (patents in the U.S. are valid for 20 years). Despite strong sales ($125 million last year) and a low marginal cost of producing the product ($0.25 per pill), your company has yet to show a profit from selling the drug. This is, in part, due to the fact that your company spent $1.2 billion developing the drug and obtaining FDA approval. An economist has estimated that, at the current price of $1.25 per pill, the price elasticity of demand for the drug is negative 2.5 (-2.5). Based on this information what can you do to boost PROFITS. (Hint: Remember that profit is defined as total revenue minus total cost. Make sure your answer includes information on both revenue and cost.)
How many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?
If nothing else changes, what happens to the price and quantity if the supply curve shifts to the right? What is the law of supply? Give two examples of how you have observed the law of supply at work.
riority mail has been one of the most profitable products for the U.S Postal service, between 1995 -1999 and accounting for almost 8% of the Postal Service's mail revenue. Because the Postal Service lost $480 million in the fiscal year ending Sept..
Which of the following is NOT a condition for price discrimination? Different groups of consumers should be charged differing prices for the same product. The firm's demand curve should be downward sloping.
Describe the effects of each of the following managerial decisions or economic influences on the value of the firm: 1. The firm is required to install new equipment to reduce air pollution.2. Through heavy expenditures on advertising, the firm's mark..
describe the market structure of perfect competition in terms of number of producers, control over price by firms in this market, type of product in terms of differentiation, barriers to entry into this market, and whether economic profit can be..
What shape did the short-run aggregate supply curve have during the 1930s, according to Keynes? Explain
What are the characteristics of a monopolistically competitive market and how do these differ from perfect competition?
Define depository institution, and discuss types of depository institutions are found in the U.S. and how do they act as intermediaries between savers and borrowers?
Mankiw discusses that if federal authorities suppose responsibility, entire financial system might well become a group of government sponsored enterprises.
Explain the rationale for government regulation of companies with market power. Is regulation in the customers interest or in producer's interest and how might this control special interest groups?
What is the variable cost and when output is 10,000, what are the average variable cost and the average fixed cost?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd