A "generic drug" contains the same active chemical ingredient as a drug that was previously protected by a patent. Generic drugs are essentially the same and are sold by many different, small firms after the original patent has expired. A well-known example is the antibiotic penicillin. The COVID-19 pandemic has seen high use of penicillin by those infected by the virus.

Using the demand-supply model, analyse this change in consumer preferences regarding this drug. Examine the likely consequences in one or two related markets of your choice.