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GlaxoSmithKline (GSK) maximizes profit by producing a quantity of 800 pills where marginal cost is $2 and average cost is $4. Consumers are willing to pay as much as $10 per pill when the quantity supplied is 800 pills. What is the maximum amount of profit that GSK can earn under these conditions?
Economists argue about the potential benefits and cost of diversification. For example while diversification can certainly help company to promote new products at the same time through the merger of two firms it can be more expansive to develop commu..
An increase in the price of the inputs, increases the marginal costs of producing pizzas, which decreases supply and increases the market price.
In a world of job-finding and search, unemployment benefits should effect the wage accepted, but not the length of time spent searching for a job. The number of monthly separations between workers and firms is about 200,000, equal to a decent month’s..
Principles of economics for evaluating and assessing the need for the public health initiative, A brief description of whether the initiative is a micro or macroeconomic program, A determination of whether the result of the initiative is a public or ..
Suppose that the Bureau of Labor Statistics issued statistics about the population and labor as the following:
What's the best way to describe the postwar Japanese labor market?
Suppose a company did $2,000,000 in annual maintenance in 2013 and expects 80% of those to renew for 2014. Suppose that product sales
Explain why if there is no formal or informal collusion in an oligopoly market firms are more likely to match a price cut by an individual firm than they are to match a price increase? If firms in an oligopoly do indeed behave in this way (matching..
A Technology Management graduate student bought a motorcycle for $30,000, paying a down payment of $10,000. The dealership agrees to take the bike back for $8,000 at the end of 4 years. The student’s uncle owns the dealership. If the monthly payment ..
how will Kristine s consumption pattern and welfare be affected
Summarize Kuznets's Inverted-U Hypothesis and discuss the conceptual merits and limitaions of this hypothesis, especially in reference to African countries.
Least-cost production analysis is often applied by managers and plant engineers in deciding the operations plans of the company - Determine under what conditions, a company should or should not continue to produce the good or service.
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