February 3, 2020
23andMe slashes 14% of workforce.
Questions
- According to 23andMe CEO Anne Wojcicki, why is the demand for genetic tests decreasing?
Suppose that the market for genetic testing is perfectly competitive.
- What is the effect on the marginal revenue of each firm in the market when the demand for genetic testing decreases?
- Why is 23andMe making the decision to decrease its workforce but not making the decision to shut down?
- Is it possible that 23andMe is incurring an economic loss given that it is remaining in the market?
- Draw a graph to illustrate your answers to #3 and #4.