Once the patent for a drug in the pharmaceutical industry expires, the market for the generic equivalents
a. Is usually considered competitive
b. Is a monopolistic market
c. Has no effect on the profits earned by the original producer
d. Would not exist
a
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Consider the economy described by the income distribution in Table 21-1. From this table, we can conclude that the poorest 60 percent of the population earns
A. 15 percent of the income. B. 17 percent of the income. C. 32 percent of the income. D. 68 percent of the income.
The basics of the ERM in the EC provided for:
A) flexible exchange rates and free capital flows. B) fixed exchange rates based on the U.S. dollar. C) gradual conversion to a common currency (the euro). D) fixed exchange rates based on a weighted basket of currencies formula.
Imports are
A. people who work in foreign countries. B. an example of an economic model. C. whatever is given up to obtain some item. D. goods produced abroad and sold domestically.
Refer to the information provided in Table 13.4 below to answer the question(s) that follow. Table 13.4Price ($)Quantity20.00118.00216.00314.00412.00510.006 8.007Refer to Table 13.4. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $4 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $18; 2 B. $16; 3 C. $12; 5 D. $10; 6