Pros and cons of putting a price ceiling on prescription medicine. Use concepts such as government intervention, inefficiencies, price elasticity, etc. inthe answer.

A- In the first case, assume the medication is for a life threatening illness for which your child has been diagnosed.

B- In a second case, assume the medication is for an improved quality of life issue, such as achieving a healthy weight.

C-What are the impacts that the pharmaceutical company that makes the medications in question will experience? How will that affect the pharmaceutical company's production decisions? What about its decisions to conduct further research into new drugs?