Suppose that the inverse market demand for a new vaccine is P = 21,000 - 5Q, and the marginal cost is $10 per vaccine. Assuming that the manufacturer is profit-maximizing, what will be the market price of this new vaccine?
A) 15,000
B) 17,250
C) 15,750
D) 14,000
E) 13,500
Correct Answer:
Verified
Q1: When the demand for medical care _,
Q2: In the long-run, economic profits will be
Q4: A decrease in the demand for medical
Q5: If the market price is greater than
Q6: If a large number of nurses chose
Q7: If there is an increase in the
Q8: Product differentiation may stem from which of
Q9: Collusion among firms is most likely to
Q10: Collusion is most likely to occur within
Q11: The net benefit received through the purchase
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents