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Drivus Pharmaceutical previously had a patent on its drug Tuvular, making it the only firm that could sell the drug. The patent recently expired on
Drivus Pharmaceutical previously had a patent on its drug Tuvular, making it the only firm that could sell the drug. The patent recently expired on this drug, and generic drugs are now entering the market. What would you expect to happen to price and output as the market becomes more competitive? Group of answer choices Price increases and output decreases. Price increases and ouptut increases. Price decreases and output decreases. Price decreases and output increases
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