Explain how the proposed price controls would change consumer surplus, producer surplus, and the deadweight loss in the markets for drugs.

Drug price controls could cost in access to life-saving medications As the Trump Administration finalized a new regulation designed to lower prescription drug prices, two Republican senators also introduced legislation to cap domestic pricing at foreign prices. The bill would likely backfire and deprive Americans of lifesaving medicines. Such restrictions make companies unable or unwilling to sell their drugs in foreign countries. Americans have access to 95% of cancer drugs released worldwide between 2011 and 2018. But patients in Canada have access to only 58% and in the United Kingdom to just 74%….