(Answered) When patents on certain products expire what happens to the

Management Studies

When patents on certain products expire, what happens to the price elasticity of demand for that product? For example, if a prescription drug is is under patent the company who produces it has a monopoly since no other company can copy and produce the drug. When the patent expires, other companies and generic manufactures can begin producing the drug. In this case, what will happen to the price elasticity of demand for the drug?

View complete question

Business Management, Management Studies

Category:- Business Management
Reference No.:- M92814062
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Business Management

Discuss the role of change innovation experimentation and

Discuss the role of Change, Innovation, Experimentation, and Risk in association with effective leadership in organizations.

In light of the winners curse must winning bidders in

In light of the winner's curse, must winning bidders in auctions necessarily "lose" in the sense of paying more than the acquired firm (or product) is worth? What steps can bidders take to prosper in auctions and/or corp ...

What are your thoughts on reasonable accommodation do you

What are your thoughts on reasonable accommodation? Do you feel as if the company you work for meets or exceeds the reasonable accommodation standard?

There are many different types of teamsgroups pick one type

There are many different types of teams/groups. Pick one type that you have been involved in and describe the team/group and your experience within it. Discuss the various dynamics based on the new knowledge you gained t ...

How peoples upbringing and values when faced with an

How people's upbringing and values when faced with an ethical decision, whether it is in a business environment or not. How are our beliefs the same as or different than those of our parents or birth community? Has knowl ...

What is a domain name in the context of internet what is

What is a domain name in the context of Internet? What is the procedure to get a domain name and link it to an Internet Protocol (IP) address? Use an example.

In 2010 toyota recalled millions of automobiles to fix a

In 2010, Toyota recalled millions of automobiles to fix a potentially hazardous problem known as sudden acceleration. Writing in the Wall Street Journal, James Stewart gave investors the following advice: "Toyota share ...

How is it that a persons mental map impacts the ability of

How is it that a persons "mental map" impacts the ability of a leader to align the organization with the vision of the organization.

What are rolling billboards and what are the benefits of

What are Rolling Billboards and what are the benefits of these advertisements?

Ellen is an anthropologist who has been working at olduvai

Ellen is an anthropologist who has been working at Olduvai Gorge in Tanzania for the past six months. She has been conducting research on the Internet. She finds a Web site with an article that proposes a revolutionary t ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Management Expert