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You own a pharmaceutical company that is specialized in the manufacture of medicine for smokers. You newly patented an innovative drug called Clealung, which drastically reduces the smokers' likelihood of lung cancer. You are the only maker of the medicine and there are no same products in the market. Your costs for producing Clealung can be explained by:
a) Write down your firm's profits in two ways: (i) as a function of the price per box and (ii) in terms of the quantity.
b) Maximize both profit functions, and illustrate that in both cases ??MR=MC at the optimum. In addition, compute the profit.
If the landfill described in Example had a compacted density of 600 Kg/m3 a refuse depth of 9 m (29.5 ft), a moisture content of 20% by volume, and a 1-m (3.25-ft)-thick clay cov
a) The production-possibilities curve is? b) If there is a shortage in the provider of a product, we can conclude that its price: c) An enhance in supply and a
What do you mean by the fiscal policy? What are the instruments of fiscal policy? Briefly comment on India's fiscal policy.
What is Normative economics It is concerned with varied corrective measures that a management undertakes under lots of circumstances. It deals with goal determination, goal dev
determination of size of firm
explain critically growth maximisation model of morris ?
Q. Explain the Game theory? Game theory: Game theory is a branch of applied mathematics which is used in the social sciences, most particularly in economics, as well as in b
demand function is q=4850 - 5p(1) + 1.5p(2) + 0.1 Y WHEN Y=10000 p(1)=200 p(2)= 100 find income elasticity of demand for p(1)
Types of isoquant
The production function is Q= 20 K0.5 L0.5 Question: For the production function Q= 20 K0.5 L0.5 determine four combinations of capital and labor that will produce 100 and 200 unit
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