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Satsume Satsume
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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:
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Bart_argBart_arg
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6 years ago
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Satsume Author
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6 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
macbookpro1
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Yesterday
Helped a lot
halyna
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2 hours ago
Thank you, thank you, thank you!
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