The EpiPen is a device that contains and delivers the lifesaving
drug epinephrine to treat anaphylactic...
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Economics
The EpiPen is a device that contains and delivers the lifesaving
drug epinephrine to treat anaphylactic shock. It is currently
priced at $700 and demand is perfectly inelastic. If the
manufacturers of EpiPens improved their manufacturing process
lowering the cost of production by $50, then Equilibrium price
decreases more than $50 and equilibrium quantity increases.
Equilibrium price decreases less than $50 and equilibrium quantity
increases. Equilibrium price decreases exactly $50 and equilibrium
quantity increases. Equilibrium price decreases exactly $50 and
equilibrium quantity doesn’t change. Equilibrium price decreases
less than $50 and equilibrium quantity doesn’t change.
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