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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 52
Assume that Congress announces its intention to limit the prices and profits of pharmaceutical companies as part of an effort to control health care costs. What effect would you expect this announcement to have on the p/e ratios and stock prices of pharmaceutical companies such as Merck and Bristol-Myers Squibb? Explain.
Explanation
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P/e ratios reflect investors' expectatio...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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