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Option B is correct, the statement II and III is TRUE. If the government sets the price of all pharmaceutical drugs equal to the marginal cost.
In economics, the marginal cost is the change within the total price that arises whilst the amount produced is incremented, the price of producing additional quantity. In some contexts, it refers to an increment of 1 unit of output, and in others, it refers to the charge of change of overall cost as output is improved by an infinitesimal quantity. The marginal cost is measured in dollars consistent with units, while the total cost is in greenbacks, and the marginal cost is the slope of the total fee, the fee at which it will increase with output. Marginal cost isn't the same as common price, which is the full price divided by way of the variety of gadgets produced.
At each stage of production and term being taken into consideration, marginal cost consists of all expenses that fluctuate with the level of production, while costs that don't range with manufacturing are constant. as an instance, the marginal cost of producing a vehicle will encompass the charges of labor and components wanted for the additional car however not the constant price of the manufacturing facility building that doesn't alternate with output. The marginal fee may be both short-run or lengthy-run marginal price, relying on how huge the fowl is, on the grounds that ultimately even constructing size is chosen to fit the desired output.
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