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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.
Equilibrium and Disequilibrium in the Balance of Payments If on the current account , the value of exports is equal to the value of imports, the balance of payments is said t
Real Rigidities in the Labour Market New Keynesian theories of the labour market help in explaining the existence of involuntary unemployment. The theories also attempt to
Given the following payoff matrix (a) indicate the best strategy for each firm (b) why is the entry deterrent threat by firm Ato lower the pruce not credible
What is the difference between monopoly and perfect competition? Monopoly versus Perfect Competition: 1. Perfect competition is equal to monopoly competition, at the perfe
International Commodity Agreements (ICAS) International Commodity Agreements (ICAS) represents attempts to modify the operation of the commodity markets so as to achieve vario
Explain about the Pricing analysis Microeconomic methods are employed to examine lots of pricing decisions. This includes transfer pricing, price discrimination, joint product
Suppose that in an isoquant mapping, you should consider three isoquants with 1000, 2000 & 3000 units of output. The price of capital is Rs 2 a unit, and the price of labor is Rs 1
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Milton Friedman makes the demand for money a function of the real per capital permanent income. in this study the demand function for money is stated as; M/NPP= r( YP/NP) δ W
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