1. Assume that Jiyun Pharmaceuticals develops a drug that can allow people with a rare disease to live longer. She is given a patent by the US government. The demand curve for JPs drug is below.
   1. Fill in the table below.
   2. Assume MC=$20 for each bottle with a monthly supply of pills. Graph the Demand curve, MR, and MC.
   3. From the graph, how many widgets will she produce and what price will she charge? You must explain why/how you know this and label the profit maximizing quantity on the graph.
   4. On this graph, show the deadweight loss.
   5. Discuss the effects of the patent on all groups that are affected.

F, and g are optional! If you do them, please be as specific as possible.

1. What would be the effect of a $30 price control? A $20 price control? A $10 price control on the following? Discuss as specifically las possible the effects on Qmonopoly,CS, PS, TS? Is the price control economically efficient? What does whether the policy is economically efficient depend on?
2. Name another policy that will increase access to the drug? What does whether the policy is economically efficient depend on?