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In 1987, a company called Burroughs-Wellcome introduced its anti-AIDS drug AZT and an introductory price of $12,000 annually. Suppose the marginal cost of producing an annual dosage of the drug was $100 and that $12,000 was the optimal price. What is effect on the number of annual doses sold of a 10% increase in the price of the drug? Explain how you obtain your answer, showing all calculations.
Identify at least three of the greatest opportunities occurring within emerging markets. Explain the following: why are they important, what are the main three risks and challenges with ermerging markets, how do these opportunities impact America or ..
What motivated Europeans to initiate and undertake perilous voyages of exploration and discovery from the late fifteenth century onward? How was this related to the growth of the European nation-states? Who was most successful in these endeavors?
Is the Markowitz Theory the best Approach for all Portfolios? Explain Markowitz's train of thought about why investors should seek an efficient portfolio.
In 2013, the furniture store PB produced 13 mahogany desks. One of them is sold to Jeanine for $3,349, later that same year Jeanine sold the desk to Pamela for $1,919. The remaining desks were not sold to anyone that year and stay in PB's inventory a..
An article in the Wall Street Journal reported that large hotel chains, such as Marriott, are tending to reduce the number of hotels that they franchise to outside owners and increase the number the chain owns and manages itself. Why would Marriott w..
In the year 2011 the prices at which producers sold their output were quite real to those producers. If they had tried to sell their products at 1983 prices their customers and stockholders would have rightly thought the producers had lost touch with..
As you know, the Affordable Care Act expands coverage for low-income US citizens by giving them access to Medicaid. As you also know, not every state has taken advantage of this Medicaid expansion. What economic argument can you make for expanding Me..
What will happen to the price of the computer in Yuan. Illustrate what will be the effect on Dell's cost of production.
If an industry has no barriers to entry, no product promotion strategy, a standardized product type, and a very large number of firms operating within it, the industry can be said to have. The long-run average-cost curve
Household finances are similar in some ways to a nation’s international transactions. Suppose a household consumes (spends) more than its income. What are 3 legal ways it can finance this deficit? Give an example of each. How can a nation that runs a..
For each of the following statements, specify whether a Keynesian, a monetarist, or a classical economist is most likely to support it, and explain in 1-2 sentences why. “During a recession, government spending should be minimized. The Federal Reser..
Europeans lead the world in terms of the quantity of genetically modified (GM) foods consumed. In Germany, labor-management relations tend to be even more antagonistic than in the US. In the struggle and lobbying for political influence, smaller grou..
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