Suppose a new vaccine for Lyme disease is developed by Merck, a large drug company. Which of the following is most likely to occur?
A) Merck will apply for a patent on the vaccine that grants it the monopoly rights to the vaccine for many years.
B) Merck will have a monopoly on this vaccine because of economies of scale.
C) Other firms will quickly copy the formula making the market for the vaccine competitive.
D) Merck will not tell anyone about its discovery though it will sell the vaccine.

Question

Quizplus · Accepted Answer

Merck will apply for a patent to protect its intellectual property and secure exclusive rights to produce and sell the vaccine for a certain period, preventing other firms from copying it.

Suppose a New Vaccine for Lyme Disease Is Developed by Merck