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Managerial economics class In this assignment, you are to prepare a report analyzing the two problems below. Be sure to include your own interpretation and opinion as you prepare this report. You are the manager of a small pharmaceutical company that received a patent on a new drug three years ago. Despite strong sales ($150 million last year) and a low marginal cost of producing the product ($0.50 per pill), your company has yet to show a profit from selling the drug. This is, in part, due to the fact that the company spent $1.7 billion developing the drug and obtaining FDA approval. Discuss why this firm is currently not making a profit. Include the concepts of total revenue, variable costs, fixed costs, and sunk cost. Explain the relationship of between total revenue and own price elasticity of demand. Based on this information, what can you do to boost profits? The pharmaceutical industry operates in an aggressively competitive market. There are a limited number of firms in the industry. This is due primarily to the high fixed cost of entering the market, the high cost of research and development, obtaining patents and dealing with mergers and acquisitions. Let us assume that over 70% of the products sold in this market are protected by patents for the next eight years. Identify and describe the market characteristics of perfect competition. Explain price competition in perfect competition. Explain the barriers to entry in perfect competition. Does this pharmaceutical industry conform to an economist's definition of a perfectly competitive market? Justify your response.
Jim and Peter are directors of Sambal Pty Ltd. Sambal Pty Ltd has a constitution which restricts the amount of money the company can borrow at any one time to $10m. The company already has a bank loan outstanding from the bank in the amount of $10m. ..
letter saying no to solicitation for fundsits a good cause but the answer is no. virtually every day by phone by letter
Based on the case study number 27 delta airlines 2012 12. Navigating an uncertain environment. You have been hired as a strategic management consultant by Delta Airlines. What specific recommendations would you make to the senior management team..
Another approach that focuses on the role and ability of corporate managers to create value in the management of multibusiness companies is called "patching."12Patching is the process by which corporate executives routinely remap businesses to mat..
What kind of strategy did each company use? Did they take the offensive role or defensive role? How did their strategy influence the outcome of their success?
Deliberate the assumptions that underlie the classical model of decision-making as well as explain how this model would help to explain the behaviour of a manager
The market inverse demand function is P=250-5Q and firm's cost function is c(Q)=6Q. Determine the firm's equilibrium price and corresponding function.
a. What would be the hypotheses for this test? b. Can Jeremy conclude that there is a difference in the mean number of hours spent by executives in the three different industries? What are you basing this conclusion on?
In determining what would be an appropriate unit for bargaining, identify at least five (5) factors that the NLRB should consider in determining what employee classifications would be appropriate for inclusion in a bargaining unit?
No matter what your role is in an organization, you will most likely attend a significant number of meetings. For strategic planning in particular, meetings are an essential part of each phase of the process. What challenges have you noticed in th..
Conflict Management - Explain methods for developing a team that are creative and innovative.
Trends- A series of data points that show either an upward or downward movement or a gradual movement in one direction. Patterns- Finding items that are recurring over and over in a cyclic fashion or if something regularly happens and a resulting r..
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