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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | Apr 2017 |
| Last Sign in: | 327 Weeks Ago, 5 Days Ago |
| Questions Answered: | 12843 |
| Tutorials Posted: | 12834 |
MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
1. Your company operates in a perfectly competitive market. You have been told that advertising can help you increase your sales in the short run. Would you create an aggressive advertising campaign for your product?
2. Why do firms in perfectly competitive markets not make any economic profit in the long run? Would be smart for a firm to lower its price in a perfectly competitive market? Explain.
3. Is the monopolist a price taker. Explain.
4. Is a monopolist allocatively efficient? Why or why not?
5. Why are brand name pharmaceuticals much more expensive than generic ones?
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