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Happy s Pets inc has had a virtual monopoly anti depressants drugs for animals for many years (similar to Eli lilly product prozac for human) with a patent on this drug it has had very little competition and this drug has been a major source of company revenue and profit. However the patent will soon expire and other drug manufacturing firms seem to be preparing to enter the market in competition with Happy Pets. Describe the current market structure and they type of market structure you think will emerge after the patent expires. What should happy pets do in response to these markets changes to maximize its profits from this product?

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9479136

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