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Mirk Labs is a pharmaceutical company that currently enjoys a patent monopoly in Europe, Canada, and the United States on Zatab, an allergy medication. The global demand for Zatab is: Qd = 15.0, 0.2P where Qd is annual quantity demanded (in millions of units) of Zatab, and P is the wholesale price of Zatab per unit. A decade ago, Mirk Labs incurred $60 million in research and development costs for Zatab. Current production costs for Zatab are constant and equal to $5 per unit. (a) What wholesale price will Mirk Labs set? How much Zatab will it produce and sell annually? How much annual profit does the firm make on Zatab? (b) The patent on Zatab expires next month, and dozens of pharmaceutical firms are prepared to enter the market with identical generic versions of Zatab. What price and quantity will result once the patent expires and competition emerges in this market? Explain your answer.
Manager of a computer company plans to spend on new hardware $3.5 million in the first year with amounts decreasing by $0.2 million each year thereafter. Income of the company is expected to be $8.0 million the first year increasing by $0.3 million e..
Assume that in an election voters are distributed on different positions from 1 to 10 (extremely leftist to extremely rightist) and that instead of having voters distributed uniformly across 10 regions, suppose that position 1 has a different number ..
Due to the global economic slowdown, we were benefiting from relatively low oil prices.
What would the equilibrium price and quantity be? How much profit is made in the industry and by each firm?
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Which of the following is best defined as a consciously coordinated social unit, composed of two or more people, which functions on a relatively continuous basis to achieve a common goal or set of goals?
Your weekly costs to producing q units are given by the following equation: C(q)=7+10q+3.5q2 +q3. With this technology, AC is minimized at approximately q = 1.11. What is the long-run equilibrium price of in this market, given that there are no barri..
What are the major federal laws and subsequent amendments underpin U.S. environmental protection. Identify these laws. The value of a home depends in part on how attractive other homes and yards in the neighbourhood are. How do local zoning ordinance..
q.country economic analysis report country for indiacollect the following data for the most recent year available1
austria has a history of strong hostility to nuclear power and over the last twenty years the austrians have shut down
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