Multiple Choice
The figure given below shows the aggregate demand and supply curves of a perfectly competitive market.Figure 10.7
-When Glaxo-Wellcome introduced AZT, an AIDS drug, it was able to enjoy high profits because:
A) the drug was highly recommended by doctors.
B) of the quick response of rivals in introducing substitute drugs.
C) of barriers to entry provided by patents.
D) of its competitive price in the pharmaceutical industry.
E) it experienced constant returns to scale in the long run.
Correct Answer:

Verified
Correct Answer:
Verified
Q68: The figure given below shows the cost
Q69: The table given below shows the price,
Q70: The figures given below represent the revenue
Q71: The figure given below shows the cost
Q72: The figure given below shows the aggregate
Q74: The figure given below shows the demand
Q75: The figure given below shows the cost
Q76: The figure given below shows the cost
Q77: The figure given below shows the cost
Q78: The figures given below represent the revenue