question archive In developing a policy for capping diabetes medication and supply prices, what policy model would be best to use? Why?
In developing a policy for capping diabetes medication and supply prices, what policy model would be best to use? Why?
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In developing a policy for capping diabetes medication and supply prices, what policy model would be best to use? Why?
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The government can use the policy model of price controls for capping diabetes medication. The medication used in diabetes has an inelastic demand. To protect the welfare of the patients and to improve the situation of healthcare in the country, the government can fix a maximum price for the medicines. It would be called the ceiling price for medicines.
