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October 1, 2014

Homework Help: Economics/social studies

Posted by Camilla on Tuesday, March 17, 2009 at 6:35pm.

This isn't an example of an invisible hand is it?

A single drug company obtains a patent on a lifesaving drug. The company can charge whatever it chooses for the drug and will not lose customers. Is the invisible hand at work in this scenario?

I say no because the customers what a better value of the drug than charging too much for the drug.

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