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5. India has recently considered the introduction of stricter enforcement of intellectual property rights. This would have important effects on many markets, including the market
5. India has recently considered the introduction of stricter enforcement of intellectual property rights. This would have important effects on many markets, including the market for medicines. Explain, with the aid of an appropriate diagram, how the introduction of stricter protection of intellectual property (IP) rights in India will affect the price and availability of medicines in India, compared with no protection of IP rights. Why are many other developing countries also concerned about the amendment to the Patents Act in India? [10 marks]
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