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We live in an age when medicines developed by the pharmaceut

Paper help Economics We live in an age when medicines developed by the pharmaceut

Economics

We live in an age when medicines developed by the pharmaceut

We live in an age when medicines developed by the pharmaceutical industry provide protection aga… Show more We live in an age when medicines developed by the pharmaceutical industry provide protection against chronic and acute conditions that simply killed our forebears. The availability of these medicines is affected by at least two important aspects of public economic policy: public support for research and the granting of patents. Do you believe that the government should spend tax revenues to support research within universities that is later put to commercial applications? Do you believe that pharmaceutical companies should be allowed to patent their new drugs? Justify your answers by drawing on economic concepts from your readings. • Show less

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