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Drugmakers produce the generic for aspirin: acetylsalicylic acid. They sell it at lower prices than non-generic or so-called brand name drugs, such as Bayer aspirin.
Drugmakers produce the generic for aspirin: acetylsalicylic acid. They sell it at lower prices than non-generic or so-called "brand name" drugs, such as Bayer aspirin.
Is the substitution of brand-name drugs (such as Bayer aspirin) for generic drugs (such as acetylsalicylic acid) insufficient or diminished consumer surplus?
Does the availability of generic aspirin increase or decrease the producer surplus for Bayer?
Does the availability of generic aspirin help bring aspirin production closer to the efficient amount?
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