Business, 26.03.2021 03:50, bigboyethanlanp2s9lm
You are the manager of a small pharmaceutical company that received a patent on a new drug three years ago. Despite strong sales ($150 million last year) and a low marginal cost of producing the product ($0.55 per pill), your company has yet to show a profit from selling the drug. This is, in part, due to the fact that the company spent $1.6 billion developing the drug and obtaining FDA approval. An economist has estimated that, at the current price of $1.50 per pill, the own price elasticity of demand for the drug is -2.5.
Based on this information, what can you do to boost profits?
a. Raise price.
b. Reduce price.
c. Keep price the same.
Answers: 2
Business, 22.06.2019 19:00, nativebabydoll35
In north korea, a farmer’s income is the same as a dentist’s income. in a country with a mixed or market economy, the difference between those two professions might be more than 5 times different. how can you explain the fact that individuals doing the same work in different countries do not earn comparable salaries?
Answers: 1
Business, 23.06.2019 00:00, SoccerHalo
Todd and jim learned that in building a business plan, it was important for them to:
Answers: 1
You are the manager of a small pharmaceutical company that received a patent on a new drug three yea...
Mathematics, 28.01.2020 21:51
Chemistry, 28.01.2020 21:51