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Author Question: Once the patent for a drug in the pharmaceutical industry expires, the market for the generic ... (Read 64 times)

vicotolentino

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on: Jul 1, 2018
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


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meganlapinski

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a

Answer to Question 2

c


vicotolentino

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  • Posts: 552
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

sailorcrescent

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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