What Happens to the Price and Quantity Sold of a Drug

question 582

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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