Corea Inc.,a pharmaceutical company,is involved in the research,development,manufacture,and marketing of prescription medicines.A new drug developed by Corea 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.
Correct Answer:
Verified
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