Multiple Choice
Jim Novak is on the executive board for BioMed pharmaceuticals. The company produces the number one selling cancer fighting drug on the market. Due to its incredible success, BioMed pharmaceuticals has decided to increase the cost of the drug from $9 a pill to $16 a pill. Which force is BioMed pharmaceutical using to increase its drug price?
A) Supplier power
B) Buyer power
C) Threat of false entrants
D) Business power
Correct Answer:
Verified
Correct Answer:
Verified
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