Question: Monopolies exist under certain conditions as we have learned this week. Drug companies are often considered in a monopoly due to patents they have on

Monopolies exist under certain conditions as we have learned this week. Drug companies are often considered in a monopoly due to patents they have on specific medications. Consider what would happen if there was a change in the length of the patent. What pricing options do monopolies have? Consider also the potential for market failure due to pricing decisions in your post. Be sure to give specific examples and cite your sources.

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