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Topic 1 Discussion topic: Prescription Medications Critically analyze the pros and cons of putting a price ceiling on prescription medicine.
Make sure to use concepts from the chapter in this unit such as government intervention, inefficiencies, price elasticity, etc.
in your answer.
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Topic: Prescription Medications Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from the chapter in this unit such as government intervention, inefficiencies, price elasticity, etc.
in your answer. Instead of relying on demand to drive price, the government sets a minimum (called a price floor) or a maximum (known as a price ceiling) that can be charged for a product or service.
Just as you wouldn’t buy a car or a house without thoughtful deliberation over the options, you should take some time to research the pros and cons of a range of plans.
Weigh the advantages of a lower monthly premium against the potential out-of-pocket costs in the event of a serious health issue.Pros and cons of putting a price ceiling on prescription medicine