Travis K. answered • 12/20/23
Tutor
5.0
(1,008)
Economics Tutor for MBA, Intro (Principles), AP Micro / Macro classes
Kathy G.
asked • 11/11/23microeconomics question
A pharmaceutical company produces a drug that is effective in reducing blood clots in humans, as well as treating kidney disease in cats. The price elasticity of demand for the drug used by humans is -1.25, and used for animals is -2.6. If the marginal cost of producing each pill is $2, A. for how much would the drug company sell each pill for human consumption? B. for how much would the drug company sell each pill for animal consumption?
Follow
•
1
Add comment
More
Report
1 Expert Answer
Still looking for help? Get the right answer, fast.
Ask a question for free
Get a free answer to a quick problem.
Most questions answered within 4 hours.
OR
Find an Online Tutor Now
Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.
