Final answer:
Generic brands are generally 30 to 50 percent cheaper than brand names because they don't incur the high costs of drug development, testing, and marketing. The correct option is C.
Step-by-step explanation:
Generic brands are typically cheaper than brand names due to a variety of factors. One of the main reasons is that generic brands do not have to bear the high costs associated with developing a new drug, which include research, testing, and marketing expenses. Since generics use the same active ingredients and are considered bioequivalent to brand names, they do not need to invest in such extensive measures.
As a result, they can sell their products at a lower price. When looking at pricing, generic brands are generally 30 to 50 percent cheaper than brand names. This means that the correct answer to the question is c. 30 to 50 percent.
Generic brands are generally 30 to 50 percent cheaper than brand names.
For example, if a brand name product costs $10, a generic version of the same product would typically cost around $5 to $7. This is because generic brands do not have the same costs as brand name products, such as advertising and research and development expenses.
As a result, generic brands can offer similar quality products at a lower price, making them a more affordable option for consumers.