Reference no: EM13223139
Problem: Queuing
Pharma Dev develops and markets new technological products to be used in health care. The development of a new product operates as follows: when a new technology meets the requisite market potential, a new patent is filed. Patents are granted for a period of 12 years starting from the date of issue. Once the patent is filed, the new technology is developed at one of its three independent development centers, and is then launched to the market. Each product is developed at only one center, and each center can only develop a single patented technology at a time.
On average, Pharma Dev files a new patent every 5 months (with standard deviation of 5 months). The average development process lasts 12 months (with standard deviation of 24 months).
a) What is the utilization of Pharma Dev's development facilities?
b) How long does it take for the average technology from filing a patent to the start of the development process?
c) How many years of patent life remain on average when a product is launched to the market?
d) On average how many patented products are undergoing development or waiting to be developed?
Pharma Dev is considering leasing an additional development center to shorten the time to market of patented products. If this center is used in addition to the three centers, by how will the total time-to-market (waiting time plus development time) of a patented product change?
e) After a product is launched to the market, it generates gross margins of US$40 million per year of patent life. After the patent expires, the product generates no gross margins. By how much would leasing the new facility increase Pharma Dev's average total annual gross margins?
How much profit does each firm earn
: There are 75 firms in the perfectly competitive market for pencil erasers where the price is $50 per unit. Each firm faced costs of C(q) = 0.5q^3 - 5q^2 +65q How much does each firm produce and how much profit does each earn
|
Explain oxidize aluminum under standard state conditions
: Answer the following questions: a) can Al3+(aq) oxidize tin (Sn) under standard-state conditions?; b) would it be OK to store an aqueous AlCl3 solution in a tin container?; c) can Sn2+(aq) oxidize aluminum (Al) under standard state conditions?; d)..
|
What are the profits of the firm at the optimal price
: A firm with market power produces a chip at a marginal cost of $10 per unit and zero fixed costs. It faces a demand function given by P = 50 - Q. What are the profits of the firm at the optimal price and output combination
|
What were the causes of the weak safety record
: What do you think about Walt Disney's decision not to purchase merchandise from Bangladesh? Is this and appropriate way of dealing with the problem?
|
What is utilization of pharma devs development facilities
: What is the utilization of Pharma Dev's development facilities and how long does it take for the average technology from filing a patent to the start of the development process?
|
Individuals infected with hiv aids have physical
: Topic is Individuals infected with HIV/AIDS have Physical needs
|
Based on statistical information calculate the profits
: To simplify the computations, suppose the cost of production is zero for both products. You have estimated that there are three types of customers, I, II, and III, who buy the products of the firm. There are 2,000 customers of each type, and they ..
|
Defien the equilibrium constant kc
: The equilibrium constant Kc equals 1.6 10-2 at 200°C. What are the moles of substances in the equilibrium mixture at 200°C if we start with 0.021 mol HBr in a 1.3-L vessel?
|
Devise a pricing strategy to maximize the firms profits
: As a manager of a chain of movie theaters that are monopolies in their respective markets, you have noticed much higher demand on weekends than during the week. You therefore conducted a study that has revealed two different demand curves
|