Top Posters
Since Sunday
e
4
h
4
h
4
m
3
d
3
B
3
o
3
w
3
H
3
a
3
c
3
k
3
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Satsume Satsume
wrote...
Go to Answer
Posts: 761
Rep: 0 0
6 years ago
You work as a marketing analyst for a pharmaceutical firm, and you are trying to gather information about the marginal cost of production for a competing firm.  You know that they have a patent on a popular medication that sells for $20 per dose, and you believe the elasticity of demand for this product is roughly -4.  Assuming the competing firm acts as a profit-maximizing monopolist, what is the competing firm's approximate marginal cost of production?
A) $10 per dose
B) $12.50 per dose
C) $15 per dose
D) $20 per dose
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
Read 103 times
1 Reply
Replies
Answer verified by a subject expert
Bart_argBart_arg
wrote...
#1
Top Poster
Posts: 570
Rep: 14 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Satsume Author
wrote...

6 years ago
Thanks for your help!!
kevin12323h
wrote...

Yesterday
Thank you, thank you, thank you!
Shassta22
wrote...

2 hours ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1011 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 347
  
 321
  
 304
Your Opinion
Previous poll results: Who will win the 2024 president election?