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Due to the nature of the patent laws on pharmaceuticals, themarket for such drug

ID: 1252994 • Letter: D

Question

Due to the nature of the patent laws on pharmaceuticals, themarket for such drugs a.always remains a competitve market. b.always remains a monopolistic market c.switches from competitve to monopolistic once the firm'spatent runs out d.switches from monopolistic to competitive once the firm'spatent runs out Due to the nature of the patent laws on pharmaceuticals, themarket for such drugs a.always remains a competitve market. b.always remains a monopolistic market c.switches from competitve to monopolistic once the firm'spatent runs out d.switches from monopolistic to competitive once the firm'spatent runs out

Explanation / Answer

D. Switches from monopolistic to competitive when a pharmaceutical patent runs out on the market for drugs.

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