MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
Question
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Chapter 5, Problem 13IP

(a)

To determine

Economy with higher drug prescription.

(b)

To determine

Impact of price control on old drugs but not on new drugs.

(c)

To determine

Benefits for the US doctors for prescribing medicines.

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Should price controls be imposed on life-saving drugs? Will consumers benefit or be harmed by this type of regulation?
The New York Times has stated that Mylan, the company that makes the now infamous Epipen, has become “the poster boy for out of control drug prices.” Why did this Pittsburgh-based company raise prices so much that Americans pay three times as much as Canadians for the same drug? Do you think patents are good for society?
Drugs that treat a small portion of the population are called O Small drugs O Unique drugs Orphan drugs "Me-too" drugs
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