Author Question: Merck, an American pharmaceutical company, produces a vaccination that is used against chicken pox. ... (Read 62 times)

2125004343 · **on:** Jun 29, 2018

Merck, an American pharmaceutical company, produces a vaccination that is used against chicken pox. The table shows the domestic demand for, and supply of, this medication, measured in thousands of doses per day.

The world price of this medicine is 24 per dose. a. With no trade, what is the U.S. price and quantity of the vaccine? b. At the world price, how many doses are demanded in the United States? c. At the world price, how many doses are produced in the United States? d. At the world price, how many doses are exported?

Question 2

Which of the following is NOT an element of a seller's decision-making process in a perfectly competitive market?

A) The relationship between the inputs and outputs
B) The cost of the inputs
C) The price of the output
D) The number of buyers

EAN94 · **Reply #1 on:** Jun 29, 2018

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