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Question: a. Where will profits be higher: when demand for a patented drug is highly inelastic or when demand for a patented drug is highly elastic? (Figure may be helpful.)
b. Which of those two drugs is more likely to be "important?" Why?
c. Now, consider the lure of profits: If a pharmaceutical company is trying to decide what kind of drugs to research, will it be lured toward inventing drugs with few good substitutes or drugs with many good substitutes?
d. Is your answer to part c similar to what an all wise, benevolent government agency would do, or is it roughly the opposite of what an all-wise, benevolent government agency would do?
The theory of comparative advantage may be applied to a country's output. Although natural resources within a country may often provide the best opportunity.
A firm sells its product in a perfectly competitive market where other firms charge a price of $90 per unit. The firm’s total costs are C (Q) = 60 + 14Q + 2Q2. What are the firm’s short-run profits? What price must the firm charge in the short run?
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Find the expected value of X. Show your work and find the variance of X. Show your work and calculate the cumulative distribution function
a tell why you selected the appropriate exponential smoothing method by commenting on your y data
a doctoral student has just completed a study for her dissertation and found the following demand and supply
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What sorts of provisions might a contract include to handle days when it rains and the bees cannot be released?
According to the article, Petty insists that tickets to his concert be sold "below market price." The author of the article wondered why "Petty and his promoter would price tickets so low when there were clearly people willing to pay much, much mo..
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