Find the competitive price and output

Assignment Help Business Economics
Reference no: EM132649215

The demand for a patented drug can be written asP=2,000-Qwhere P is price and Q is quantity. The marginal cost of production and distribution is constant and equal to 10.

a. Find the competitive price and output.

b. Find consumer surplus.

c. Find the patent holder's profit maximizing price and output.

d. Find the patentee's profit.

e. Find the social welfare loss - if any.

Reference no: EM132649215

Questions Cloud

PJM580 Capstone Project Management Assignment : PJM580 Capstone Project Management Assignment Help and Solution, Colorado State University - Assessment Writing Service - finalize your work in order
How to identify main independent and dependent variables : Identify the statistical hypotheses that have been tested in this article. What statistical tests have been used to test those hypotheses?
Write a reaction to moran presentation of the urban world : Write a reaction to Moran's presentation of the urban world as an ecosystem, focusing on the idea that cities incorporate both bio and cultural aspects
Why would only use the osha pel at a facility : Why would only use the OSHA PEL at a facility where you were the safety officer, or alternatively, why you would choose to use one of the other OELs
Find the competitive price and output : The demand for a patented drug can be written asP=2,000-Qwhere P is price and Q is quantity. The marginal cost of production and distribution is constant and eq
Does the calculated exposure exceed the oel chose : Does the calculated exposure exceed the OEL? Provide your opinion as to whether the risk associated with each exposure is an acceptable level of risk.
What are the main ways of organizing a business : What is an example of a company doing good by doing well-that is, making profits-and for that reason improving the general welfare
Which of the results exceed the osha action level : Which of the results exceed the OSHA action level? Provide your opinion as to whether the risk associated with each exposure is an acceptable level of risk.
Are planning a career in the health field : Are you planning a career in the health field? How do you think disciplinary knowledge from health psychology might be applied in your work?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd