Question: Full explain this question and text typing.. Clear work Since its introduction, Prilosec has been one of the best-selling anti-ulcer drugs in the world. Although

Full explain this question and text typing.. Clear work

Since its introduction, Prilosec has been one of the best-selling anti-ulcer drugs in the world. Although Prilosec's marginal cost (production and packaging) was only about $0.60 per daily dose, the drug's creator initially set the price at $3.00 per dose-a 400 percent markup relative to MC! Research on demand for leading prescription drugs estimates the price elasticities of demand to be about -1.2. Compute the profit-maximizing price using the markup rule. (Do not include $ sign in your answer. Round your answer to two decimal places.)

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