a. In the United States drug companies can receive a patent of 100 years for each drug they develop   b. Lowering the length of patents could induce greater innovation and new drug development.   c. Raising the length of patents would lower profits of pharmaceutical companies   d. Price controls in other countries make existing drugs more affordable overseas but they decrease the overall rate of innovation for new drugs.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Which of the following is TRUE about the pharmaceutical industry?

  a.

In the United States drug companies can receive a patent of 100 years for each drug they develop

  b.

Lowering the length of patents could induce greater innovation and new drug development.

  c.

Raising the length of patents would lower profits of pharmaceutical companies

  d.

Price controls in other countries make existing drugs more affordable overseas but they decrease the overall rate of innovation for new drugs.

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