Predict effect on pharmaceutical research and development

Reference no: EM131826811

Question: a. In 2006, Medicare Part D was created to subsidize spending on prescription drugs. What effect would you expect this expansion to have on pharmaceutical prices? What principle in the chapter would explain this result?

b. Given your answer in part a, what effect would you predict on pharmaceutical research and development?

c. Whatever answer you gave in part a, can you think of an argument for the opposite prediction?

Reference no: EM131826811

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