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Monopoly: Expiration of Pharmaceutical Patent

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A pharmaceutical company owns a patent for an antibiotic, and it is currently earning positive economic profits from sales of the medication. Following the expiration of the patent, what is the most likely impact on the market price and the company's profit for this medication?

A

Market price will increase, and profits will increase.

B

Market price will decrease, and profits will decrease.

C

Market price will increase, and profits will decrease.

D

Market price will decrease, and profits will increase.

E

Market price and profits will remain the same.