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Oprion C is incorrectneed with in 5 min The patent on a brand name medication will soon expire. Which of the following would we expect

Oprion C is incorrectneed with in 5 min

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The patent on a brand name medication will soon expire. Which of the following would we expect to happen in the market for the branded medication after the patent expires? The supply curve for the branded medication will shift to the left. The price of the branded medication will increase in the longrun. The market equilibrium quantity will increase. After the patent expires, other suppliers will enter the market and charge a lower price. Some of the people that were buying the branded drug. will stop buying it and start buying a generic instead. That would cause a decrease in the equilibrium quantity The demand curve for the branded medication will shift to the left The demand curve for the branded medication will shift to the right

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