please respond in 150-200 words these are the only questions i do not know. 1. Have you ever driven by a poorly maintained business facility and wondered why the owner does not either fix up the property or go out of business? Explain a scenario or situation where you have seen this and discuss why this might be the case. What factors went into determining the reason the business is still open and/or opportunities the business might have. Explain what costs that business might incur and how they might still be making a profit or minimizing their losses? 2. What is the goal of a firm? What is the difference between revenue and profit? Why do we use the assumption that firms have the goal of maximizing their profits as the basis of our models in this chapter? Is this model/assumption always true? Why or why not? 3. Let’s examine what happens in an industry when it becomes competitive. The pharmaceutical industry allows drug makers to hold a patent on a drug for a certain period of time to recoup their costs before it is made available to the public via a generic branding. Why are the prices of generic drugs so much cheaper after they come off a patent? As a part of this, pharmaceutical companies often attempt to extend the patent period for a specific good, buy why? Take a look at the pharmaceutical industry in depth with an eye towards the economics of the industry.

please respond in 150-200 words these are the only questions i do not know.

1. Have you ever driven by a poorly maintained business facility and wondered why the owner does not either fix up the property or go out of business?

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Explain a scenario or situation where you have seen this and discuss why this might be the case. What factors went into determining the reason the business is still open and/or opportunities the business might have. Explain what costs that business might incur and how they might still be making a profit or minimizing their losses?

2. What is the goal of a firm?

What is the difference between revenue and profit? Why do we use the assumption that firms have the goal of maximizing their profits as the basis of our models in this chapter? Is this model/assumption always true? Why or why not?

3. Let’s examine what happens in an industry when it becomes competitive.

The pharmaceutical industry allows drug makers to hold a patent on a drug for a certain period of time to recoup their costs before it is made available to the public via a generic branding. Why are the prices of generic drugs so much cheaper after they come off a patent? As a part of this, pharmaceutical companies often attempt to extend the patent period for a specific good, buy why? Take a look at the pharmaceutical industry in depth with an eye towards the economics of the industry.

 

 

please respond in 150-200 words these are the only questions i do not know.

1. Have you ever driven by a poorly maintained business facility and wondered why the owner does not either fix up the property or go out of business?  

Explain a scenario or situation where you have seen this and discuss why this might be the case. What factors went into determining the reason the business is still open and/or opportunities the business might have. Explain what costs that business might incur and how they might still be making a profit or minimizing their losses?

2. What is the goal of a firm?

What is the difference between revenue and profit? Why do we use the assumption that firms have the goal of maximizing their profits as the basis of our models in this chapter? Is this model/assumption always true? Why or why not?

3. Let’s examine what happens in an industry when it becomes competitive.  

The pharmaceutical industry allows drug makers to hold a patent on a drug for a certain period of time to recoup their costs before it is made available to the public via a generic branding. Why are the prices of generic drugs so much cheaper after they come off a patent? As a part of this, pharmaceutical companies often attempt to extend the patent period for a specific good, buy why? Take a look at the pharmaceutical industry in depth with an eye towards the economics of the industry.

 

please respond in 150-200 words these are the only questions i do not know.

1. Have you ever driven by a poorly maintained business facility and wondered why the owner does not either fix up the property or go out of business?  

Explain a scenario or situation where you have seen this and discuss why this might be the case. What factors went into determining the reason the business is still open and/or opportunities the business might have. Explain what costs that business might incur and how they might still be making a profit or minimizing their losses?

2. What is the goal of a firm?

What is the difference between revenue and profit? Why do we use the assumption that firms have the goal of maximizing their profits as the basis of our models in this chapter? Is this model/assumption always true? Why or why not?

3. Let’s examine what happens in an industry when it becomes competitive.  

The pharmaceutical industry allows drug makers to hold a patent on a drug for a certain period of time to recoup their costs before it is made available to the public via a generic branding. Why are the prices of generic drugs so much cheaper after they come off a patent? As a part of this, pharmaceutical companies often attempt to extend the patent period for a specific good, buy why? Take a look at the pharmaceutical industry in depth with an eye towards the economics of the industry.

 

please respond in 150-200 words these are the only questions i do not know.

1. Have you ever driven by a poorly maintained business facility and wondered why the owner does not either fix up the property or go out of business?  

Explain a scenario or situation where you have seen this and discuss why this might be the case. What factors went into determining the reason the business is still open and/or opportunities the business might have. Explain what costs that business might incur and how they might still be making a profit or minimizing their losses?

2. What is the goal of a firm?

What is the difference between revenue and profit? Why do we use the assumption that firms have the goal of maximizing their profits as the basis of our models in this chapter? Is this model/assumption always true? Why or why not?

3. Let’s examine what happens in an industry when it becomes competitive.  

The pharmaceutical industry allows drug makers to hold a patent on a drug for a certain period of time to recoup their costs before it is made available to the public via a generic branding. Why are the prices of generic drugs so much cheaper after they come off a patent? As a part of this, pharmaceutical companies often attempt to extend the patent period for a specific good, buy why? Take a look at the pharmaceutical industry in depth with an eye towards the economics of the industry.

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