One of the drawbacks of monopoly may be discouraging fairness in market competition. Let's focus on...

One of the drawbacks of monopoly may be discouraging fairness in market competition. Let's focus on the health care industry; let me direct your attention to the following:

The pharmaceutical industry seems to be a single monopolistic company relative to medications. Given this fact, can we state that there is no any competition in the market concerning medications? Or if there would be some kind of competition, how would you explain that? When you provide your explanation, you can compare with other industries. Please use your own experience and style.

Expert Solution

Rahul Sunny answered 1 year ago

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