In 2017, pharmaceutical manufacturer Mallinckrodt has been accused of engaging in a scheme to drastically inflate the price and reduce competition for its drug H.P. Acthar Gel (Acthar), a drug primarily prescribed for infants with epilepsy. In 2001, the average price for a vial of the medication was about $40. In 2007, the price skyrocketed to $23,000 per vial. Mallinckrodt now charges over $34,000 per vial of Acthar, an 85,000 percent increase from the 2001 cost. What factors are likely to have caused Mallinckrodt to increase its price for the drug?What must be true about elasticity of demand for the drug?