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Category > Economics Posted 11 Jul 2017 My Price 7.00

PillCo is a pharmaceutical company

PillCo is a pharmaceutical company that has the exclusive right to sell Qu-R, a one of a kind cancer treatment. The marginal cost (MC), average cost (AC), demand (D) and marginal revenue (MR) curves for the company are shown below. Tip: Toggle the snapping tool to "off" for easier placement of the drop lines and areas. 

 

Part 1: Use the double drop line tool to show the price (Pm) and quantity (Qm) if PillCo behaves as a profit maximizing monopolist and label it Monopolist P & Q. 

 

Part 2: Use an area tool to show the amount of consumer surplus in the case of a monopoly. Label this area monopolist CS. 

 

Part 3: Use the double drop line tool to show the price (Pc) and quantity (Qc) if PillCo prices as a competitive profit maximizing firm would and label it Competitive P & Q. 

 

Part 4: Use an area tool to show the amount of consumer surplus that would exist in the case of perfect competition. Label this area competitive CS.Screen Shot 2017-07-09 at 12.54.20 PM.png

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SuperTutor
(15)
Status NEW Posted 11 Jul 2017 11:07 PM My Price 7.00

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file 1499817129-Solutions file.docx preview (51 words )
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