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Business Ethics on a Global Scale. In the 1990s, Pfizer, Inc., developed a new antibiotic called Trovan (trovafloxacin mesylate). Tests showed that in animals Trovan had life-threatening side effects, including joint disease, abnormal cartilage growth, Liver damage, and a degenerative bone condition. In 1996, an epidemic of bacterial meningitis swept across Nigeria. Pfizer sent three U.S. physicians to test Trovan on children who were patients in Nigeria's Infectious Disease Hospital. Pfizer did not obtain the patients' consent, alert them to the risks, or tell them that Médecins Sans Frontières (Doctors without Borders) was providing an effective conventional treatment at the same site. Eleven children died in the experiment, and others were left blind, deaf, paralyzed, or brain damaged. Rabi Abdullahi and other Nigerian children filed a suit in a U.S. federal district court against Pfizer, alleging a violation of a customary international law norm prohibiting involuntary medical experimentation on humans. Did Pfizer violate any ethical standards? What might Pfizer have done to avert the consequences?
Total soft drink demand increased, and Pepsi took a larger share of the demand. Why is the equilibrium of this game different from that of a prisoners' dilemma?
What are the monopolist's profit-maximizing output and price and what is the resulting deadweight loss relative to the competitive outcome?
Do consumers of public goods have the same incentives to reveal their true valuations of Public goods as they do of Private goods? Why or why not?
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
Estimate the b coefficints of the non-linear regression and do a statistical analysis of the coefficients and what is the implication of the non-liniear regerssion to MPC?
Employ the following data for the pure monopoly to compute the firm's: (a) total revenue, marginal revenue, marginal costs, and average total cost
What is the profit-maximizing P in the case that Godzilla and Macrosoft merge
For each of the following transactions, identify whether or not it would be included in GDP: What is Metrica's GNP? Is it higher or lower than its GDP?
The following is the production possibilities for a firm. At 0 labor units (strangely enough), there are 0 units produced. At 1 labor unit, there are 10,000 units produced, at 2 labor units, there are 25,000 units produced, at 3 there are 45,000, ..
Trade Restrictions Effects on Exchange Rates. Suppose that the Japanese government relaxes its controls on imports through Japanese firm.
If you had a business exporting goods to Britain, and U.S. inflation fell as discussed above in this example, would you plan to expand production or cut back? Why?
What is the long-run equilibrium price in this market? Explain intuitively, in your own words, why this is the long-run equilibrium. What is the long-run market equilibrium quantity?
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