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A pharmaceutical company has hired you to perform an economic analysis on a currently ongoing project. Experts from the company have estimated the market for the drug and thus the potential revenues for the drug are knows, but the relevant costs are becoming a sticking point for the company's analysis. The company initially provides you the following information:
1. Which costs are relevant when deciding whether to proceed with the project?
2. Which costs are relevant when deciding how many doses of the drug to produce (assuming the drug makes it to production)?
3. Is there any other information for which you would need to ask the company to complete your analysis?
Compute the elasticities for each independent variable. Note: Write down all of your calculations - Determine the implications for each of the computed elasticities.
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An Alumnus of West Virginia University whishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If..
In general, individuals and countries that attemps to be completely selfsufficient tend to
Consider a typical village money lender in a loan market where competition among money lenders drives the rural rate of interest to a point where each lender on average earns zero expected profits (over and above the opportunity cost of funds to l..
Explain an experience that you have had working on a team. As a part of your response discuss how the team was evaluated. Also discuss whether or not the free-rider problem existed on your team. If it did exist also discuss how/if the problem was add..
q1. assume that the market for tomatoes is perfectly competitive. using an appropriate model or models illustrate and
Which of the following market structures will have higher prices in the long run than perfect competition?
Analyze how the market will respond in each example (from the perspective of both the supplier and the consumer. Recommend examples in each of the three examples as to how consumer's demand may be satisfied.
an estimate of the demand function for household furniture produced the following resultsa. determine the point price
Changes in real GDP serve as a better measure of the health of the economy than GDP because real GDP measures:
1. a taxicab company maintained accurate records of the expenses for one of its automobiles from january 1 1996
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