Critically analyze the pros and cons of putting a price ceiling on prescription medicine.

Unit 6 Discussion Board 150 words
Critically
analyze the pros and cons of putting a price ceiling on prescription medicine.
Make sure to use concepts from the chapter in this unit such as government
intervention, inefficiencies, price elasticity, etc. in your answer.
In the first
case, assume the medication is for a life threatening illness for which
your child has been diagnosed.
In a second
case, assume the medication is for an improved quality of life issue, such
as achieving a healthy weight.
What are the impacts
that the pharmaceutical company that makes the medications in question
will experience? How will that affect the pharmaceutical company’s
production decisions? What about its decisions to conduct further research
into new drugs?
Unit 7 Discussion Board 150 words
Discussion Topic: Increase in Fixed Costs
Suppose a
business experiences a sudden increase in its fixed costs. For example,
suppose property taxes increase dramatically. What impact, if any, will
this have on the following:
a. the firm’s AFC (average fixed cost);
b. the firm’s AVC (average variable cost);
c. the firm’s ATC (average total cost); and,
d. the firm’s MC (marginal cost)?
What changes,
if any, is there likely to be in these same cost CURVES?
Unit 8 Discussion Board 150 words
Discussion Topic: Your Own Business
Assume
that you are going to start a small business of your own.
Describe the business and discuss the following:
What costs
you would incur;
What
competition you might experience;
How you would
determine the price you would sell your product; and,
How much
product would you produce?

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