According to the In the News article,"U.S.Sues over Drug's Price Hike," Ovation pharmaceuticals violated federal law in 2006 when it bought a competitor's drug,creating a monopoly for the heart treatment used on premature babies,then raised the price.If a monopoly increases the price of its product,it must believe that it faces a(n)

Question

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A monopoly with an inelastic demand curve can increase the price of its product as consumers are willing to pay a higher price for the only available option. In this case, premature babies with heart conditions have a limited number of treatment options.

According to the in the News Article,"U