Corea Inc., a pharmaceutical company, is involved in the research, development, manufacture, and marketing of prescription medicines. A new drug developed by them has been awarded patent rights by the U.S. Food and Drug Administration. The patent grants them exclusive rights to manufacture and market the drug for 3 years. Based on this information, which of the following statements will be true?

Corea Inc., a pharmaceutical company, is involved in the research, development, manufacture, and marketing of prescription medicines. A new drug developed by them has been awarded patent rights by the U.S. Food and Drug Administration. The patent grants them exclusive rights to manufacture and market the drug for 3 years. Based on this information, which of the following statements will be true?








a. Corea Inc. will operate in a market with monopolistic competition.
b. Corea Inc. will have exclusive rights to produce and market the product forever.
c. Corea Inc. will operate in a perfectly competitive market.
d. Corea Inc. will have a temporary monopoly in the market for this drug.











Answer: D


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