Order the answer to: A. Where will profits be higher: When demand for a

Best Writers business-economics Order the answer to: A. Where will profits be higher: When demand for a

business-economics

Order the answer to: A. Where will profits be higher: When demand for a

Question a. Where will profits be higher: When demand for a patented drug is highly inelastic or when demand for a patented drug is highly elastic?
b. Which of those two drugs are more likely to be “important?” Why?
c. Now, consider the lure of profits: If a pharmaceutical company is trying to decide what kind of drugs to research, will it be lured toward inventing drugs with few good substitutes or drugs with many good substitutes?
d. Is your answer to part c similar to what an all-wise, benevolent government agency would do, or is it roughly the opposite of what an all-wise, benevolent government agency would do?
Subject business-economics
Ready to try a high quality writing service? Get a discount here