In the United States, drugs need not be proven they are effective in doing what they claim to do before they can be sold
Indicate whether the statement is true or false
F Since the Kefauver-Harris Amendment in 1962, drugs must be proven to be efficacious before they may be sold.
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Fact: Very few skyscrapers are found on rural farmlands, far outside the city. Why?
A) As opposed to city property, farmland cannot support a skyscraper's tremendous weight per square foot. B) Skyscrapers would spoil the view of the rural landscape. C) The opportunity cost of building skyscrapers in rural areas is too high. D) There are far too many dangers involved.
Which of the following is a reason why a firm would not engage in price discrimination?
A) The transactions costs associated with selling the product exceed the price of the product. B) Some firms do not want to violate the law of one price. C) Some firms are not able to segment the market for the products they sell. D) Price discrimination is illegal in some western states and the owners of firms in these states face civil or criminal prosecution if they engage in price discrimination.
Always There Wireless is wireless monopolist in a rural area. There are 200 customers, each of whom has a monthly demand curve for wireless minutes of Qd = 200 - 100P, where P is the per-minute price in dollars and Q is the number of wireless minutes. The marginal cost of providing the wireless service is $0.25 per minute. If Always There charges $0.50 per minute and the largest fixed fee that it can at that price, what is the difference in total profit compared to when it charges $0.25 per minute and the largest fixed fee that it can at that price?
A. Profit is the same in both cases, and it is equal to zero. B. Profit is the same in both cases, and it is negative. C. Profit is $626 higher at a price of $0.50. D. Profit is $626 higher at a price of $0.25.
Direct controls that impose equal percentage reductions in emissions on all firms in the area
a. impose the same costs on all firms. b. minimize the cost of pollution reduction. c. penalize firms that have already incurred some costs to reduce pollution. d. are the fairest way to distribute the burden