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Furthermore, price competition in the market was rare and only a few major firms initiated price competition. Conclusion The Korean market appears to be an example of perfect competition when we focus on the number of manufacturers. However, the market is near-monopolistic when examining the price of generic drugs. While product competition between different forms of drugs is effective in lowering price, product competition within the same form of a drug does not exist in the market. Copyright © 2020 Park, Bae, Lee and Son.Objective To e
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