Refer to the table below. Which drug should the senior manager not pursue?
The senior manager of Rx Pharmaceuticals needs to decide which of three drugs the company should consider developing. The estimated profit for each of the drugs differs depending on the market conditions when the respective drugs are introduced to the market. The above table summarizes the estimated profit for each drug under each of the three market conditions; Good, Fair, and Poor.
A) Drug Y
B) Drug X
C) Drug Z
D) all of the drugs
B) Drug X
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Suppose that the labor movement has a revival in the United States and the majority of workers join labor unions. As a result we would expect
A) the unemployment rate to fall. B) the unemployment rate to rise. C) the labor force participation rate to fall. D) no change in the unemployment rate or labor force participation rate.
Something is called a barrier to entry only if it makes entry into an industry absolutely impossible
a. True b. False
The real price of a product is its
A. absolute level on any given day divided by the relevant price index. B. absolute level on any given day. C. absolute level on any given day minus any external costs of the production of the good. D. price relative to the price of other goods and services.
The demand curve for a product might shift as the result of a change in:
A. consumer incomes. B. consumer tastes. C. the prices of related goods. D. all of these.