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A pharmaceutical firm faces the following monthly demands in the U.S. and Mexican markets for one of its patented drugs:
Q US = 300,000 - 4,000*P US
QX = 240,000 - 7,000*PX
where quantities represent the number of prescriptions.
Assume that resale or arbitrage among markets is impossible and that marginal cost is constant at $2 per prescription in both markets. Monthly fixed costs are $1 million in the United States and $500,000 in Mexico.
Draw the demand, marginal revenue, and marginal cost curves for each market. What are each of the firm’s total profits?
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the bureau of labor statistic and federal reserve bank in st. louis both have a lot of economic information. base on
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The inverse demand function for the market is P = 120 - 2Q. There are two firms: A and B. The cost for firm A are C(qA) = 18qA, and the costs for firm B are C(qB) = 18qB. Assume that both firms choose quantities simultaneously. What is each firm's be..
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List three types of consumer protection laws in banking and give an example of each type. Fair Debt Collection Practices Act (1977). Federal Trade Commission Improvement Act (1980)
Each firm can monitor the other's price very closely and can respond instantly
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A construction firm can lease a crane required on a project for 3 years for $180,000 payable now, with maintenance included. The alternative is to buy a crane for $240,000 and sell it at the end of 3 years for $100,000. Annual maintenance costs are e..
Representative consumers have the utility function U(C,Ls) = log(C) + log(1- Ls). There is perfect competition in the markets (so price and wages are taken as given by firms and consumers) Write down the budget constraint of the representative consum..
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