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1. How does a generic drug differ from its brand-name, previously patented equivalent? Explain why the price of a brand-name drug typically declines when an equivalent generic drug becomes available? Explain how that drop in price affects allocative efficiency.
2. How does the demand curve faced by a purely monopolistic seller differ from that confronting a purely competitive firm? Why does it differ? Of what significance is the difference? Why is the pure monopolist's demand curve not perfectly inelastic?
3. U.S. pharmaceutical companies charge different prices for prescription drugs to buyers in different nations, depending on elasticity of demand and government-imposed price ceilings. Explain why these companies, for profit reasons, oppose laws allowing re-importation of drugs to the United States.
Please elucidate the likely effects on Savings (Gross Private Domestic) Investment, Long Term Real Interest Rates, The Capital Stock, Natural RGDP.
how do we calculate the retail price index what are the problems of using the retail price index what are the advantages of inflation what are the disadvantages of inflation what are the remedies for cost-push inflation
Identify major cross-cultural issues that may impact the American company's marketing approach in this situation and provide a precise description of how the identified issues may impact the approach American company takes.
Cheaper used textbooks raises the marginal cost (MC) of attending CSULB. c. Cheaper used textbooks lowers the marginal benefit (MB) of attending CSULB. d. Cheaper used textbooks raises the marginal benefit (MB) of attending CSULB.
A rural utility company provides standby power to pumping stations using diesel-powered generators. an alternative has arisen whereby the utility could use a combination of wind and solar power generators, but it will be a few years before the ene..
Consider the following two good pure exchange economy: Alfred's utility function is U A (x, y) = min{x, y} and Bob's utility function is U B (x, y) = max{x, y}.
The demand for watermelons is highest during summer also lowest during winter. Yet watermelon prices are normally lower in summer than in winter.
Finance the expenditures with an equal increase in taxes and keep tax revenues constant and borrow the money from the public by issuing new government bonds
Since inventories are not a large component of GDP, how can they affect GDP so sharply explain how will the replenishment cycle affect GDP in the near future?
A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu only to find out that consumers won't buy it because they don't like the taste. From an economic prespective, the company should
An ice cream shop read in the local paper in which the elasticity of market demand for ice cream
Do the utility maximizing amounts of X1 and X2 change if P1 increases to 5 while P2 stays constant at 5? Why or why not? Do the utility maximizing amounts of x1 and x2 change if P2 increases to 9 while P1 stays constant at 4? Why or why not? For a ..
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