Suppose that firm A obtained a patent for a new medication that cures
Suppose that firm A obtained a patent for a new medication that cures certain types of cancer. Which assumption of the supply-and-demand model does not hold in this example?
A) Everyone is a price taker.
B) Products are homogeneous.
C) Trading costs are low.
D) Everyone has full information about the price and quality of goods.
ANSWER
A
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