Once the patent for a drug in the pharmaceutical industry ...

[vicotolentino]

Once the patent for a drug in the pharmaceutical industry expires, the market for the generic equivalents
 a. Is usually considered competitive
 b. Is a monopolistic market
 c. Has no effect on the profits earned by the original producer
  d. Would not exist

Question 2

Economists love auctions because
 a. They maximize consumer surplus
 b. They minimize producer surplus
 c. They set the price for the item, avoiding costly negotiations
 d. They open the door to costly negotiations, with room for manipulation

[meganlapinski]

Answer to Question 1

a

Answer to Question 2

c

[vicotolentino]

Thanks for the timely response, appreciate it

[sarah_brady415]

Wow, this really help