The Case of J&J and Changes to Drug Pricing of Treatment for TB The world's largest pharmaceutical market is the US. But there is social contention about the monopoly pricing strategies of big drug firms, e.g. see https://www.forbes.com/sites/robertpearl/2023/01/31/pharma-companies-a-conglomerate-of-monopolies/ 1. https://www.washingtonpost.com/opinions/2023/05/16/multidrug-resistant-tuberculosis-treatment/ [go to 'Reading List' on Bb] 2. https://www.scientificamerican.com/article/how-advocates-pushed-big-pharma-to-cut-tuberculosis-drug-prices/ BLAW1002 S2 2023 - EPA Consider the firm Johnson & Johnson (J&J) and the production of the drug bedaquiline to treat tuberculosis (TB), and its recent decision to cut the price of bedaquiline from $46 to $8 per month, as discussed in the following freely available articles: For this task, you will be required to illustrate and explain to a typical first-year undergrad student who has no economics background what has happened to profit (producer surplus), markup, consumer surplus and the output as a result of the price reduction