Suppose you are in charge of product pricing and marketing strategy for a pharmaceutical company. You will have greater ability to independently set prices for your product if:
A) there are no close substitutes for your product.
B) there are lots of other firms selling closely related products in your market.
C) your market is perfectly competitive.
D) none of the above
A
Economics
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The marginal revenue of a monopolistically competitive firm
A) will equal average revenue. B) cannot be negative because the price the firm charges will always be greater than zero. C) can be negative if the firm charges a high price. D) can be negative if the firm charges a low price.
Economics
Explain how an increase in the public's taste towards less leisure would affect the labor market, the production function, and aggregate output. Provide graphs to illustrate
What will be an ideal response?
Economics