1st attempt Consider Pfizer which produces medicine To maxim

1st attempt Consider Pfizer, which produces medicine. To maximize profits, Pfizer must minimize its variable costs choose a quantity where marginal revenue equals marginal cost maximize total revenue minimize its fixed costs ?07:50 > 6 OF 50 QUESTIONS COMPLETED 18

Solution

For a monopolist, the profit maximising condition is given by the point where Marginal revenue equals Marginal Cost.

Thus, to maximise profit, Pfizer must,