Why might the price increases described in the news clip be against the social interest and benefit

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Why might the price increases described in the news clip be against the social interest and benefit only the producer?

A congressional inquiry report says the price of doxycycline, a generic antibiotic used to treat acne (and other things), rose more than 8,000 percent in 2013–2014. Doxycycline is made by Mylan, one of several generic drug manufacturers that are under investigation by the Justice Department because their list prices of many older medications have risen in lockstep in recent years.

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Microeconomics

ISBN: 9780134744476

13th Edition

Authors: Michael Parkin

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