Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 9, Problem 26CTQ
Why are generic pharmaceuticals significantly cheaper than name brand ones?
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Chapter 9 Solutions
Principles of Economics 2e
Ch. 9 - Classify the following as a government-enforced...Ch. 9 - Classify the following as a government-enforced...Ch. 9 - Suppose the local electrical utility, a legal...Ch. 9 - If Congress reduced the period of patent...Ch. 9 - Suppose demand for a monopolys product falls 50...Ch. 9 - Imagine a monopolist could charge a different...Ch. 9 - How is monopoly different from perfect...Ch. 9 - What is a barrier to entry? Give some examples.Ch. 9 - What is a natural monopoly?Ch. 9 - What is a legal monopoly?
Ch. 9 - What is predatory pricing?Ch. 9 - How is intellectual property different from other...Ch. 9 - What legal mechanisms protect intellectual...Ch. 9 - In what sense is a natural monopoly natural?Ch. 9 - How is the demand curve perceived by a perfectly...Ch. 9 - How does the demand curve perceived by a...Ch. 9 - Is a monopolist a price taker? Explain briefly.Ch. 9 - What is the usual shape of a total revenue curve...Ch. 9 - What is the usual shape of a marginal revenue cuwe...Ch. 9 - How can a monopolist identify the...Ch. 9 - How can a monopolist identify the...Ch. 9 - When a monopolist identifies its profit-maximizing...Ch. 9 - Is a monopolist allocatively efficient? Why or why...Ch. 9 - How does the quantity produced and price charged...Ch. 9 - ALCOA does not have the monopoly power it once...Ch. 9 - Why are generic pharmaceuticals significantly...Ch. 9 - For many years, the Justice Department has tried...Ch. 9 - Intellectual property laws are intended to promote...Ch. 9 - Imagine that you ale managing a small firm and...Ch. 9 - If a monopoly firm is earning profits, how much...Ch. 9 - Return to Figure 9.2. Suppose P0 is 10 and P1 is...Ch. 9 - Draw the demand curve, marginal revenue, and...Ch. 9 - Draw a monopolists demand curve, marginal revenue,...
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Similar questions
- how did cannabis legalization affect market demand?arrow_forwardIn the United States, most hospitals are non-profit, while nearly all pharmaceutical companies are for profit. Can you offer an explanation based on the consumer shopping problem?arrow_forwardHow can healthcare systems address the inelastic demand for emergency care to prevent unchecked and exorbitant pricing for patients?arrow_forward
- Do you think that the privatization of the Medical Center would improve or worsen the efficiency of the management of its hospitals?arrow_forwardRelates to how the customer views the ability of theproduct to meet his/her objectives.arrow_forwardWhy was Napster illegal? Is there an article to prove this?arrow_forward
- Explain the estimated and economic impacts that labelling country of origin products has on consumersarrow_forwardWhich drug type is expected to have a higher markup over cost? Brand name drugs Both have about the same markup Generic drugsarrow_forwardShould there be one $/QALY for an entire country? How would you expect drug companies to react to price limits set by public programs?arrow_forward
- Drugs that treat a small portion of the population are called O Small drugs O Unique drugs Orphan drugs "Me-too" drugsarrow_forwardRetailers O Buy large volumes of products and sell them individually to consumers. O Buy large volumes of products and always sell them in bulk to customers O Buy large volumes of products and sell them exclusively to buyers that will transform them as part of a manulacturing processarrow_forwardWhen generic versions enter the market after the patent on a branded drug has expired The branded drug increases market share and price The branded drug increases market share and decreases price The branded drug decreases market share and increases price The branded drug decreases market share and decreases pricearrow_forward
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