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A monopolistic pharmaceuticals company produces a patented drug. In one year, it could sell 400,000 prescriptions at a price of $10, or instead it could
A monopolistic pharmaceuticals company produces a patented drug. In one year, it could sell 400,000 prescriptions at a price of $10, or instead it could sell 500,000 prescriptions at a price of $5. Enter your response below rounded to 2 decimal places Remember to enter a minus (-) sign In front of any negative values entered as solutions. a. The marginal revenue associated with this range of the business's demand curve is $ b. Since this company is a monopolist, its demand curve is (Click to select) ~| and its marginal revenue curve is (Click to select) v the demand curve. c. Draw the relevant range of this business's demand curve and identify a point on its marginal revenue curve. Using the line tool plot 2 points to draw the demand curve. Use the point tool to identify marginal revenue. Remember that marginal values such as MR are plotted halfway between the two relevant quantities on the horizontal axis. Marginal Revenue and Demand for a Pharmaceuticals Company Demand Curve O 30 Marginal 25 Revenue 20- 15- 10 scription
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