Question
Help need a reply please Like many other things in the world today, the pharmaceutical companies are not pandemic proof. During last years pandemic residual,
Help need a reply please
Like many other things in the world today, the pharmaceutical companies are not pandemic proof. During last years pandemic residual, many countries have felt the long lasting effects of worker shortages. One of those fields, like many others, is medicine. The country that is in focus is Canada. There hasn't been much news about shortages within this country, but one of the largest ones is the drug companies. Many of these changes came from a nation that was in lock-down and could not get their prescribed drugs from their doctors. Once the country started to open up, a lot of these companies had to play catch-up. This was no feat due to the lack of workers that returned to their original jobs due to lay offs and others simply just wanting a change for themselves.
The terms consumer surplus and producer surplus differ in many ways. For the consumer surplus term, this mean the difference in what a consumer will pay and what they did pay for the product. On the other hand, producer surplus doesn't pertain to the consumer at all. This term is what the market price and the lowest price a producer is willing to accept to produce a good or service. The example selected above represents a shortage, not a surplus at all. Canadian pharmaceutical companies are having a hard time trying to keep up with demand for drugs instead of trying to see what the market value is to produce the product in the first place
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