AbbVie has had strong patent protection in the production of its drug Humira which is used to treat various autoimmune diseases including severe rheumatoid arthritis for adults. Suppose the government is considering extending the length of all patents, including AbbVie's, to 20 more years. How would this change each of the following?

a) The incentive to invent new prescription drugs?

b) consumer surplus?

Answer rating: 100% (QA)

a The incentive to invent new prescription drugs Extending the length of patents including AbbVies patent for Humira to an additional 20 years is like... View the full answer