A pharmaceutical company introduces a new life-saving drug with no close substitutes. The company has a patent on the drug, giving it a monopoly in the market. The drug is expensive to produce, and the company sets a high price for it. In this situation, the demand for the new drug is likely to be:
Since the drug is lifesaving and has no close substitutes, the demand is likely to be relatively inelastic. This means that even if the company increases the price, the quantity demanded will not decrease significantly because patients are willing to pay a high price for a life-saving treatment.
The ages of A, B and C together are 62 years. B is twice as old as A and C is 6 years older than A. What is the difference between ages of B and C?
The ratio of the present ages of a son and his father 3:7 and that of his mother and father is 6:7. Four years ago, the ratio of the age of the son that...
The current average age of three friends, Aravi, Bipasa, and Chinu, is 24 years. The ratio of Chinu's and Diksha's present ages is 4:5, and Bipasa's cur...
Present age of ‘A’ is 40% more than that of ‘B’. If 11 years hence from now, ‘B’ will be 5 years younger than ‘A’, then find the sum of ...
The current average age of 'Akhil', 'Bittu', and 'Chinu' is 42 years. 'Bittu's' age is 25% greater than 'Akhil's'. Twelve years from now, the age ratio ...
The ratio of the present age of mother and son is 11:5. 5-years ago the father's age was 5 years less than thrice the age of son and 6 years hence the a...
The average age of Mohan, his wife, his son and his daughter is 24 years. His wife is just 5 years younger than Mohan himself and his wife was 25 years ...
Six years from now, Kirti's age will be twice that of her brother Kunal, but 4 years ago she was three times as old as Kunal was then. Find the present ...
Which of the following is a video format?
7 years ago, Meera’s age was equal to the Heena’s present age. The sum of Meera’s age 10 years from now and Heena’s age 5 years ago is 94 yea...
