In US President Biden’s State of the Union address, at 29:54 he says “insulin costs about $10 a vial to make… they [charge] up to 30 times that amount”. a) Is this statement true in a practical and meaningful way? b) What price might President Biden be speaking of? c) How might the price in b) spillover into other costs incurred by the consumer? Hint: The slides on US healthcare system will be very helpful (especially the slides near th

In US President Biden’s State of the Union address, at 29:54 he says “insulin costs about $10 a vial to make… they [charge] up to 30 times that amount”. a) Is this statement true in a practical and meaningful way? b) What price might President Biden be speaking of? c) How might the price in b) spillover into other costs incurred by the consumer? Hint: The slides on US healthcare system will be very helpful (especially the slides near th