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You own a pharmaceutical company that is specialized in the manufacture of medicine for smokers. You newly patented an innovative drug called Clealung, which drastically reduces the smokers' likelihood of lung cancer. You are the only maker of the medicine and there are no same products in the market. Your costs for producing Clealung can be explained by:
a) Write down your firm's profits in two ways: (i) as a function of the price per box and (ii) in terms of the quantity.
b) Maximize both profit functions, and illustrate that in both cases ??MR=MC at the optimum. In addition, compute the profit.
Comment on the consequences of environmental degradation on the economy of a community.
explain in detail ramsey pricing with example?
Suppose that the price elasticity of demand for cereal is -0.75 and the cross-price elasticity of demand between cereal and the price of milk is -0.9. If the price of milk rises by
what is segmentation
The following represents the section headers you should consider for your reasoned document. Each section should have (at least) two research citations to support your work :
why demand curve slopes down
1
definition of total revenue,marginal revenue,average revenue
ROLE OF SCARCITY IN MANAGEMENT DECISION MAKING
PROGRESSIVE TAX A progressive income tax system is one where the higher the income, the greater the proportion paid in taxes. This is effected by dividing the taxpayers' inco
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