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The biotechnology industry is seeing a broad pattern of disintegration due to the fact that big pharma companies are less and less doing which of the following core functions?
Consumer Surplus
The differential in the total price consumers are interested and capable of paying for a product or service and the actual price paid.
Producer Surplus
The gap between the price sellers are ready to accept for a good and the actual price obtained.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved, leading to an underproduction or overproduction of that good or service.
Deadweight Loss
A loss of economic efficiency that occurs when the equilibrium outcome is not achieved or when the market does not allocate resources at the optimal point.
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