consider the pharmaceutical company mylan that produces epinephrine injection devices called epipens. in the presence of other firms producing substitutes for this good, the price of epipens is $150.

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26-11-2021
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consider the pharmaceutical company mylan that produces epinephrine injection devices called epipens. in the presence of other firms producing substitutes for this good, the price of epipens is $150.

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topeadeniran2 topeadeniran2 · Answer 1 · 2021-12-04T03:01:10+01:00

From the information given, when the price is $150, it should be noted that the firm will earn a negative economic profit.

From the information, it was stated that in the presence of other firms producing substitutes for the good, the price of epipens is $150.

It should be noted that profit will be maximized when the marginal revenue and the marginal cost intersects. Therefore, when the price is $150, the average total cost will lie above the demand curve. Therefore, the firm earns a negative economic profit.

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