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Because when a patent ends and generic drugs are introduced there is downward pressure on price, the makers of the brand name drug will: Select one:
a. claim the generic is not as good as the patent version of the drug.
b. abandon the product.
c. price discriminate.
d. raise their price.
Should Joe continue to search or buy a DVD player at a price of $200. Elucidate your answer and show your calculations.
Assume also that the price of cigarettes, the income of consumers, and the price of alcohol.
Suppose that 8000 (i.e 8 units of one thousand) construction permits are expected to be issued in 2010. What would be the point estimate of Phoenix lumber Company’s sales for 2010?
The Heckscher-Ohlin model is about how factor abundance/scarcity affects trade. Consider factors such as capital, skilled labor and unskilled labor. It is usually held that developed countries are relatively abundant in capital and skilled labor, and..
Select one significant environmental issue. What are the costs and benefits of our current environmental issues from an economic standpoint? What type of market failure could those problems is defined as? What can you as an individual do to help in a..
Suppose the own price elasticity of demand for good X is -3, its income elasticity is -2, its advertising elasticity is 3, and the cross-price elasticity of demand between it and good Y is -5. Determine how much the consumption of this good will chan..
What does the latest research say about the connection between customer satisfaction and customer loyalty? Do an Internet search of this topic and find specific statistics.
Which of the follow is a characteristic of a command system?
Suppose market demand and supply are given by Qd=100-2P and Qs=5+3p. If a price floor of $30 is set, what will be size of the resulting surplus?
A competitive firm’s production function is y = 6√ x1 + 8√ x2. The price of factor 1 is $1 and the price of factor 2 is $4. The price of output is $8. How much of each factor should the firm use to maximize its profit? How many units of output will t..
If congress decides to reduce the tax paid per pack paid by sellers of cigarettes other things being equal the cost of cigarettes will fall.
Student heights are normally distributed. The mean height of students is 68.5 inches and the standard deviation is 2.5. Calculate the probability that a randomly selected student is between 69.15 inches and 74.68 inches tall.
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