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You are the manager of a small pharmaceutical company that received a patent on a new drug three years ago (patents in the U.S. are valid for 20 years). Despite strong sales ($125 million last year) and a low marginal cost of producing the product ($0.25 per pill), your company has yet to show a profit from selling the drug.
This is, in part, due to the fact that your company spent $1.2 billion developing the drug and obtaining FDA approval.
An economist has estimated that, at the current price of $1.25 per pill, the price elasticity of demand for the drug is negative 2.5 (-2.5).
Suppose as your company's lobbyist, what would you like to see done through Federal government that would be of help to your company? This could be what government could do or what they could stop doing this.
I believe that fast food restaurants show short run production function because of the one fixed input, capital. But, I need to elaborate more and produce the production function equation Q=F (L,K,M...) Can you please help?
The Aggregate Demand for goods and services in an economy must at every moment equal the value of Real Gross Domestic Product because both are defined to be the sum of (C+I+G+X-IM).
The existence of only three big U.S. auto manufacturers is evidence that the market structure is anti-competitive and that antitrust laws are being broken. Measure this assertion.
A country should engage in international trade when the country can give up fewer goods for imported item than is implied by the item's domestic opportunity cost of production.
Provide an example of an airline or aviation firm trying to take advantage of economies of scale. Do you think they are/were successful? In what way?
Calculate the net present value and benefit-cost ratio for four different discount rates
HoneyBee Farms, a medium size manufacturer of honey, operates in market that fits competitive market definition relatively well.
If the demand for corn rise due to its use as an alternative energy source, what will happen to supply of corn's substitute such as soybean?
Prepare your slides as soon as you have a good final draft. Preparing the slides will help you see any weaknesses in your paper.
Assume a country has a life expectancy of 51.5, an adult literarcy rate of 62.6 percent, a combined gross enrollement ratio of 45 percent, and GDP per capita PPP of $853.
Tetrangle Manufacturing has fixed costs of $2,160 per day. The firm manufactures bicycle component upgrade kits. What is the breakeven level of daily output for the firm?
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