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Structure best describes the market structure for killtrol

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Reference no: EM132401007

Killtrol® is a patent drug of Clark Pharmaceuticals. As of April 1, 2019, it will go off patent and become a generic drug (everyone can manufacture it). Answer the following questions.

a) What market structure best describes the market structure for Killtrol® while on patent?

b) What market structure best describes the market structure for Killtrol® when it goes off patent?

c) What will happen to the following when Killtrol® goes off patent?

1) The price? Why?

2) Profits at Clark Pharmaceuticals? Why?

3) The output (quantity)?

Reference no: EM132401007

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