7.1 Under what circumstances will a drug company charge more for its drug after its patent expires? 7.2 Does the Managerial Solution change if the entry of the generic causes a parallel shift to the left of the patent monopoly's linear demand curve? 7.3 Some people propose reducing the number of years that a drug patent lasts, but their critics argue that such a change would result in even higher prices during the patent period as companies would need to recover drug development costs more quickly. Is this argument valid if drug companies maximize profit?