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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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