Explanations
Why are insulin prices so high in the United States?
9th March 2023
The high price of insulin has resulted in many individuals with diabetes struggling to afford the medication they need to manage their condition, leading to serious health consequences. Efforts to address the issue include calls for increased competition, patent reform, and price regulation.
In this short topic video we look at some of the reasons for high insulin prices and walk through an analysis diagram that might be used in an exam style question.
- Economics
- Blog
- Explanations
- Monopoly
- Monopoly Profit
- Complex monopoly
- Pure Monopoly
- Regulated monopoly
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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