Critically analyze the pros and cons of putting a
price ceiling on prescription medicine. Make sure to use concepts such as government intervention, inefficiencies, price
elasticity, etc. in your answer.
the first case, assume the medication is for a life threatening illness
for which your child has been diagnosed.
a second case, assume the medication is for an improved quality of life
issue, such as achieving a healthy weight.
are the impacts that the pharmaceutical company that makes the medications
in question will experience? How will that affect the pharmaceutical
company’s production decisions? What about its decisions to conduct
further research into new drugs?