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A product you produce has the following annual demand function:

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9. A product you produce has the following annual demand function;P=90-0.003Q;The marginal cost of producing the product is $30. If the firm pays a fee of $50000 to the General Drug Research Council, it can have its product's effectiveness certified. The demand function for a certified product is expected to be P=100-0.003Q;a. Calculate the price, output, and profit contribution if the product is not certified.

 

Paper#29675 | Written in 18-Jul-2015

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