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A pharmaceutical firm faces the following monthly demands in the U.S. and Mexican markets for one of its patented drugs:
Q US = 300,000 - 4,000*P US
QX = 240,000 - 7,000*PX
where quantities represent the number of prescriptions.
Assume that resale or arbitrage among markets is impossible and that marginal cost is constant at $2 per prescription in both markets. Monthly fixed costs are $1 million in the United States and $500,000 in Mexico.
Draw the demand, marginal revenue, and marginal cost curves for each market. What are each of the firm’s total profits?
A number macroeconomic variables decline during recessions. One of these variables is the GDP. What other variables, besides real GDP, tend to decline during recessions? Given the definition of real GDP and its components, explain the declines in the..
Jim likes to go to church but he also likes to drink wine. unfortunately for jim the consumption of one of these goods reduces the enjoyment of the other. draw the indifference curves that displays jims preferences.
Which of the following best explains why a $7 billion tax cut can lead to a $9 billion increase in consumer spending in the short run?
If the central bank (such as the fed in the us) of a country is steadily losing their foreign exchange reserves under a fixed exchange rates, then probably
Jim accidentally runs over Mary in the parking lot. Mary was walking to her car (maybe she wasn’t paying really close attention to traffic), Jim didn’t look both ways, so he ran her right over. If the law of the jurisdiction is simple (pure) negligen..
Suppose the government increases education spending by $20 billion. Based on an MPC of 0.75, how much additional consumption will this increase cause? Show your work.
Over the past five years American consumers have decreased their frequency of taking vacations. It is believed that a few factors may have led to this decrease. The recession of 2009 effectively stalled income growth in the country while at the same ..
Suppose demand and supply are given by Qd = 100 - P and Qs = 2P + 25. 2. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $ 40 is imposed in this market.
Elucidate what is the minimal compensation t that induce the buyer to accept the exclusivity contract. What is the maximal compensation that the monopolist is willing to oer to the buyer.
find one example of a price-fixing conspiracy and describe it in 200 words or less. matthews anna wilde. as u.s. trade
A shirt company spends $1,000 per week on rent for its factory. Each shirt made at the factory requires $2 worth of cloth and $8 worth of labour and energy. Illustrate what is the marginal cost of a shirt.
Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation.
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