Use the Figure Below to Answer the Following Questions

question 68

Multiple Choice

Use the figure below to answer the following questions. Figure 12.4.6
-Prime Pharmaceuticals has developed a new asthma medicine,for which it has a patent.An inhaler can be produced at a constant marginal cost of $2 per inhaler.The demand curve,marginal revenue curve,and marginal cost curve for this new asthma inhaler are shown in Figure 12.4.6.The patent gives Prime Pharmaceuticals a monopoly for its new inhaler.If Prime Pharmaceuticals can perfectly price discriminate,then consumer surplus is

• A)zero.
• B)$24 million.
• C)$64 million.
• D)$44 million.
• E)$32 million.

Identify and explain the economic thoughts of historical and influential economists.

Explain the effects of interest rates on the economy, including the role of usury laws.

Understand the relationship between supply, demand, and pricing in various markets, including real estate and loanable funds.

Familiarize with the concept of economic profits versus accounting profits.

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Definitions:

Conceptual

Pertaining to concepts or ideas; concerned with the theoretical, rather than practical aspects of something.

Stereotypy

The repetition of meaningless gestures or movements. One of the manifestations of a developmental disorder.

Neurodevelopmental Disorders

A group of conditions that emerge in childhood and are characterized by developmental deficits that produce impairments in personal, social, academic, or occupational functioning.

Non-functional Gestures

Gestures that do not serve a direct practical purpose or that do not convey meaningful communication in a given context.