Organization has the bigger incentive for careful quality.

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Q. The makers of Tylenol pain reliever do a lot of advertising also have very loyal customers. In contrast, the makers of generic acetaminophen do no advertising also their customers shop only for the lowest price. Suppose which the marginal costs of Tylenol also generic acetaminophen are the similar also constant. (A)Draw a diagram explain Tylenol's demand, marginal income also marginal cost curves. Label Tylenol's price also markup over marginal cost. Repeat part (A) for a producer of generic acetaminophen. Explain how do the diagrams differ? Which organization has a bigger markup? Explicate. Which organization has the bigger incentive for careful quality control? Why?

Reference no: EM1313830

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