Drug prices soar in the U.S. as a result of low PEDs

The NY Times: Runaway Drug Prices Article published: May 5, 2015 - out of date: no longer suitable for your IB Economics commentary IB Economics syllabus: Microconomics (Elasticities, necessities, govt' intervention) Many medicines have a low price elasticity of demand due to the low number of substitutes and the fact that they are necessities. As producers are also [...]