What Happens to the Price and Quantity Sold of a Drug

question 97

Multiple Choice

What happens to the price and quantity sold of a drug when its patent runs out? (i)
The price will fall.
(ii)
The quantity sold will fall.
(iii)
The marginal cost of producing the drug will rise.

• A)(i) only
• B)(i) and (ii) only
• C)(ii) and (iii) only
• D)(i), (ii), and (iii)

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Definitions:

Power Relations

The dynamics of control, influence, and authority among individuals or groups within a society.

City Growth

The increase in size, population, and economic activity within urban areas, often driven by factors such as industrialization, migration, and infrastructure development.

Cities

Urban areas characterized by higher population density and vast human features in comparison to areas surrounding them.

Mesopotamia

An ancient region located in the eastern Mediterranean, roughly corresponding to present-day Iraq, and is considered the cradle of civilization for its early developments in agriculture, writing, and urban life.