Posted: February 17th, 2022

reply to classmate discussion

 please reply to this classmate discussion board publish, 100 phrases please, want by 1pm jap time on sunday 

 
Monopoly:
Pharmaceutical corporations might be thought of as monopoly as as soon as they develop a drug, they’ve patents on it for some years earlier than another firm can produce a substitute product.  Greatest instance I may give is of Turning Prescription drugs who acquired a drug in 2015 and raised the worth of the drug from $13.50 to $750 in a single day (CNBC, 2015).  Typically value of the medication enhance due to shortages however for Turning prescribed drugs, it was a plain monopoly. 
Good Competitors:
In accordance to Chapter eight of “Economics for Right this moment”, “No actual world market precisely matches the three assumptions of excellent competitors.  The peerlessly aggressive market construction is a theoretical or ultimate mannequin, however some precise markets do approximate the mannequin pretty intently.  Examples embrace farm merchandise markets, the inventory market, and the overseas change market (Web page, 214).
Because the corporations enter in aggressive market, they take the worth from the trade and that’s the reason these are known as Value Takers.  
References:
Pollack, Andrew. “Drug goes from $13.50 a pill to $750, in a single day.” CNBC, CNBC, 21 Sept. 2015, www.cnbc.com/2015/09/21/drug-goes-from-1350-a-tablet-to-750-overnight.html.

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