Homework Answers
7.
A.
The price that maximizes the total surplus will be equal to $2. It means that $2 is the price that maximizes the total surplus. It happens, because price = marginal cost.
When price is based as per the above equation, the efficiency is achieved in the market and total surplus is maximized.
=====
B.
No, BPI will become a monopolist due to the legal protection in the form of patents and copyrights and it will make BPI to charge higher price than $2.
The price will be decided on the basis of price elasticity of demand of the product in the market. The formula to be used is as follows.
(Price - MC)/Price = 1/|Elasticity|
So, lower the value of elasticity, will make higher the price of the product, by BPI.
======
C.
If government does not give patent, then BPI will not spend any money, because there is no protection to the investment and resulting innovation to the company. It is a discouragement to the companies like BPI as other companies now steal the formula or plagiarize it to make it of their own.
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D.
If the drug is sold at a cost, then total surplus will be maximized. Further, it will make productive and allocative efficiency to be achieved in the market.
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e Coro Word Document Review ViewHelp Search 1 Aabbcc Aabbed AaBb 1 Normal 1 No Spac. Heading 1 TE. . AaBbcc AaB AalbCD Abod Abcd Heading 2 Title Subtitle Sabitlem impi . 1 Paragraph A $192 petty cash fund has cash of $22 and receipts of $180. Which of the following woukl be part of the journal entry to replenish the account? Select the correct answer credit to Cash for $192 debit to Cash for $22 credit to Cash Short...
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HW7 (2) e Search References Mailings Review View Help Aa A 211 AaBbceDe AaBbceDe AaBb C AaBbccc AaB AaBb Ccc ABLE 1 Normal 1 No Spac Heading 1 Heading 2 Title Subtitle Subtle 2. Regress number of close friends on female (ie, predict number of close friends using the measure of whether the respondent is female). a. Show the EXCEL or SPSS output of this regression. SUMMARY OUTPUT Regression Statistics Multiple R 0.235405 R Square 0.055415 Adjusted R 0.051607 Standard...
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Aa A D-A E E ALT ED- AaBbCcDc AaBbCcDc AaBb 1 Normal 1 No Spac... Heading 1 AaBbc A Heading 2 Paragraph Styles 1 Identify several roles in nursing that interest you and that also require a baccalaureate degree R:As a new baccalaureate nurse, how can you best prepare for your new role as a BSN- prepared nurse? 3: How will professional certification increase your chances of being selected for the new role for which you applied? 4: What new...
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Aabbcc Aabb cx AaBbc AaBbcc AaB Aabbcc Ab Abc 1 Nom No Space Heading 1 Heading 2 Title Subtitle Subtle Em. Emphasis Aobce intense Styles aragraph Toka QUESTION 2 What is out in the following circuit? 1.0.5vin 22 vin 3.2 Vir Os vin of COP OTO
y Review view Help A 21 AaBbCeDd AaBbCcDd AaBbc AaBbcc AaB AaBbce Aalben 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em Paragraph Styles 5. Suppose you had $10,000 to invest three years ago, in February of 2017. Research three stock indices, DJIA, Nasdaq Composite and S&P 500. How much money would have now if you invested $10,000 in these stock indices? Which one provided a greater return?
View Help Search AaBbccbd AaBbcDd AaBb AaBbcc AaB AaBbCcDAoBbccdd Ad 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em... En Styles If a fixed asset, such as a computer, were purchased on January 1st for $2,292.00 with an estimated life of 6 years and a salvage or residual value of $221.00, what is the journal entry for monthly expense under straight line depreciation? Select the correct answer. Accumulated Depreciation$28.76 Depreciation Expense$28.76 Accumulated Depreciation$345.17 Depreciation Expense$345.17 Depreciation...
e Coro Word Document Review ViewHelp Search 1 Aabbcc Aabbed AaBb 1 Normal 1 No Spac. Heading 1 TE. . AaBbcc AaB AalbCD Abod Abcd Heading 2 Title Subtitle Sabitlem impi . 1 Paragraph A $192 petty cash fund has cash of $22 and receipts of $180. Which of the following woukl be part of the journal entry to replenish the account? Select the correct answer credit to Cash for $192 debit to Cash for $22 credit to Cash Short...
HW7 (2) e Search References Mailings Review View Help Aa A 211 AaBbceDe AaBbceDe AaBb C AaBbccc AaB AaBb Ccc ABLE 1 Normal 1 No Spac Heading 1 Heading 2 Title Subtitle Subtle 2. Regress number of close friends on female (ie, predict number of close friends using the measure of whether the respondent is female). a. Show the EXCEL or SPSS output of this regression. SUMMARY OUTPUT Regression Statistics Multiple R 0.235405 R Square 0.055415 Adjusted R 0.051607 Standard...
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Document - Word gs View Help Search Review E E A ABCD AaBbCcDd AaBbcc AaBbcc AaB AaBCD ABCD ABbc 1 Normal 1 No Spac... Heading 1 Heading 2 Title Subtitle Subtle Em Emphasis Paragraph Styles The following lots of a particular.commodity were available for sale during the year Beginning inventory 8 units at $52.00 First purchase 19 units at $50.00 Second purchase 23 units at $21.00 Third purchase 19 units at $65.00 The firm uses the periodic system, and there...
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Aa A D-A E E ALT ED- AaBbCcDc AaBbCcDc AaBb 1 Normal 1 No Spac... Heading 1 AaBbc A Heading 2 Paragraph Styles 1 Identify several roles in nursing that interest you and that also require a baccalaureate degree R:As a new baccalaureate nurse, how can you best prepare for your new role as a BSN- prepared nurse? 3: How will professional certification increase your chances of being selected for the new role for which you applied? 4: What new...
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