The Orphan Drug Act provides special patent protection and financial support from the state government for drugs designed to treat patients with diseases or conditions that effect 200,000 people or less. True False
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The Orphan Drug Act provides special patent protection and financial support from the state government for drugs designed to treat patients with diseases or conditions that effect 200,000 people or less.
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- A monopoly drug producer that has a constant marginal cost of $1 sells in only two countries and faces a linear demand curve of Q1 = 12 – 2P1 in Country 1 and Q2 = 9 – P2 in Country 2. What price does it charge in each country? What quantity does it sell in each country? explianPatents grant a temporary monopoly, and can therefore raise drug prices. Given that, why are drug patents beneficial? a If drug prices are too low, consumers will think they are ineffective and won't use them. b Insurance companies want drug prices to be high so they can charge higher premiums to consumers. c Without a patent, a new drug could be easily replicated by competitors, and the innovator would receive no profits. Thus, there would be no incentive to spend effort making the new drug. d Consumers enjoy paying higher prices for drugs that improve their quality of life.Q11 Price Number of Ounces of Marijuana Sold $20 3 18 5 16 7 14 10 12 15 10 30 The table shows the demand schedule facing Cresco Labs, which we will assume is a monopolist selling marijuana. If Cresco Labs had no production costs, what price would it charge to maximize profits? Multiple Choice $12 $20 $16 $10 $15.
- Discuss the forms of barriers to entry in the pharmaceutical industry.A monopolist book publisher with a constant marginal cost of 2 and no fixed costs sells novels in only two countries. Assume the inverse demand curve in country 1 is given by P1=10-2/3Qand the inverse demand curve in country 2 is given byPW=18-QAssuming book shipments across countries are banned so that price discrimination occurs. What is the equilibrium price and quantity of books sold by the monopolist in country 1?Options are: a)p=1, q=16b) p=1 q=12c) p=4, q=8d)p=6, q=6Continuing to assume price discrimination, what is the equilibrium price and quantity of books sold by the monopolist in country 2?a)p= 4,q=14b)p= 6,q=12c)p= 8,q=10d)p= 10,q=8If book imports are permitted in both countries so that price discrimination is impossible, what is the equilibrium price and quantity sold in the two countries combined?a)p=6,q=20b)p=7,q=20c)p=10,q=8d)p=12,q=6Q39 Canopy Growth is a cannabis producer that is a monopolist. Answer the question on the basis of the provided demand and cost data. Demand Data Cost Data Price Quantity Demanded Output Total Cost $5.00 3 3 $5.00 4.80 4 4 6.00 4.60 5 5 6.50 4.40 6 6 7.50 4.20 7 7 9.00 4.00 8 8 11.00 3.80 9 9 14.00 Canopy Growth, the profit-maximizing monopolist will realize a Multiple Choice profit of $32. profit of $21. a loss of $13. loss of $20.40. profit of $16.50.
- ASAP PLZ Suppose a monopolist knows it has two types of customers. The inverse demand for the customers in the first market is P = 50 – Q while the inverse demand for the customers in the second market is P = 40 – 2Q. The marginal cost is €10 in both markets. Suppose the firm wishes to charge a two-part tariff to its customers but it cannot distinguish between the customers in the first and second markets. Calculate the entry (fixed) fee that the firm should charge in these circumstancestue or false? after an industry is regulated by federal regulatory agency, companies in the industry can maintain their long run vaibility by continuing to focus on making better products or services.Consider a monopoly that sells a product to consumers with a constant marginal cost of $13. There are two potential consumers. As a prior belief, each consumer thinks that the product is worth either $29 or $19 with equal probability, and he/she learns the true value of the product after trying it out. Each consumer may have a different perception of the value of the product, and these perceptions are independent events. The product is non-durable. Suppose there are two periods and each consumer demands at most one unit of the product in each period. After the first period, a company named InfoteX could conduct an online marketing survey to learn consumers perceptions of the product. By purchasing the survey from InfoteX, the monopolist knows whether a consumer is happy with the product (i.e., he/she thinks the product is worth $29 instead of $19 after trying it out) or not and can offer personalized prices to customers in the second period. Then the monopolist should charge $_______…
- A monopoly has the demand schedule p = 210 − 0.2q and the marginal cost schedule MC = 20 + 0.8q (a) If it can practise first-degree price discrimination how much should it sell? (b) If it can practise second-degree price discrimination and it has already made the decision to sell the first 100 units at a price of £190, what price should it charge for the rest of the units it sells?Discuss the pros and cons of the creation of a medical marijuana monopoly and later legalization of medical marijuana by the Canadian government in terms the price the users pay, the quantity of medical marijuana produced, and resource allocation efficiency during regulation and after its legalization.Hello! I just want to ask for help whether the answers in the given pictures are correct. If it's not, please help me recheck and resolve it. Please refer to the given pictures below for the answers. After verifying the given answers shown in the subsequent picture, PLEASE ANSWER LETTER D. SITUATION/PROBLEM: Consider a price discriminating monopolist facing two markets for its good. The demand equations faced by the monopolist and its cost function are: Market 1: Q1 = 55 - P1 Market 2: Q2 = 70 - 2P2 Cost Function: TC(Q) = 100 + 5Q, where Q = Q1 + Q2. a. If the monopolist can maintain the separation between the two markets, calculate the optimal output level that the firm should produce for each market to maximize profits. b. Determine the prices the monopoly should charge in each market, and calculate the profit of the monopoly. c. Construct a graph to represent your findings in item # 3.a and #3.b. d. If the monopolist cannot maintain the separation between the two…