A Canadian pharmaceutical firm wants to export to United Kingdom without violating the Anti-Dumping statute. That is, the price of the drug cannot be less than the total cost. The drug is first sold in the Canadian domestic market, and then United Kingdom is considered.

Given the following data, what is the minimum price that the firm has to charge to United Kingdom consumers? Show how you arrived at your Answer. (3 points)

Fixed Cost: $400,000

Variable Cost: $20

Total Weekly Manufacturing Capacity: 100,000 units

Canadian Domestic Sales: 50,000 units

Canadian Domestic Price: 40 per unit

Number of units to be sold in the United Kingdom: 50000 units