Medication Demand
Discipline: Economics
Type of Paper: Essay (any type)
Academic Level: Master's
Paper Format: APA
Pages: 3
Words: 825
Question
In the market for medications, there is a difference in demand for medications that are under patent, medications that have a strong name brand, and medications that are generics. Discuss the differences in demand for these three different types of medications. Be sure to discuss these differences using the concepts of price elasticity of demand, cross price elasticity of demand and income elasticity of demand. include graphs