Business Finance Homework Help

I’m working on a management question and need an explanation and answer to help me learn.

What are some items you are willing to pay more for? Why would you pay extra for that particular product? Do you see a problem with luxury manufacturers charging consumers many times more than what a product actually costs to manufacture?

How much should a drug company charge for lifesaving medications? Should a drug company be allowed to recoup its Research and Development costs primarily through its American customers?

Please review the attached article about Turing Pharmaceuticals and its former CEO, Martin Shkreli. What factors must a business consider when determining the appropriate price for a product? When does profit-maximization go from good business sense to unethical behavior?