Qus = 300,000 – 5,000*PusQmx = 240,000 – 8,000 * Pmxdraw a demand, marginal revenue and margincal cost curve for each market. Estimate the profit-maximizing prices and quantities graphically and determine the solutions algebraically. What are the firm’s total profits (monthly)? Calculate the price elasticity of demand in each market at the optimal price.
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Pharmaceutical industry monthly demand for patented drugs 1 answer below »