Question

Due to the nature of the patent laws on pharmaceuticals, the market for such drugs A. switches from monopolistic to competitive once the firm's patent runs out. B. switches from competitive to monopolistic once the firm's patent runs out. C. always remains a monopolistic market. D. always remains a competitive market.

Answer 1

B

Step-by-step explanation:

B: switches from competitive to monopolistic once the firm's patent runs out.