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-2015Price : $22