Agree or disagree The price of a brand-name drug often decreases after a generic alternative becomes available. This is primarily due to consumers' desire for the cheapest option, which often leads to the generic market overriding the brand-name market. This price drop affects allocative efficiency, which is the product's ability to maximize societal well-being. In the case of brand-name versus generic drugs, this effect is primarily due to increased public access to the drug. This leads to better access to medication, improving the overall healthcare system by reducing costs for sick patients. Additionally, insurance companies benefit from this occurrence, as they can reduce their costs for individual health insurance. Overall, the price drop of brand-name drugs affects the overall well-being of society