I’m studying and need help with a Business question to help me learn.
Please write 2 pages with 3 scholarly peer reviewed sources on the following:
In the market for medications, there is a difference in demand for medications that are under patent, medications that have a strong name brand, and medications that are generics. Discuss the differences in demand for these three different types of medications. Be sure to discuss these differences using the concepts of price elasticity of demand, cross price elasticity of demand and income elasticity of demand.