The light reactions produce ATP and NADPH thet the Calvin cycle uses to convert CO2 into carbohydrate. The light reactions in the thylakoid membranes of the chloroplast, and the reactions of the Calvin cycle take place in the stroma
<u>Photosynthesis</u> is a process used by plants and other organisms to convert light energy into chemical energy that, through cellular respiration, can later be released to fuel the organism's metabolic activities.
Intellectual Property Rights are certain legal laws framed by the government of a country to ensure that the formulation, procedure of synthesis and monopoly of production of certain novel commodities remain with the inventor or discoverer of the commodities in form of patents.
According to the question, the legalization of the production of a particular pharmaceutical drug solely by the company Merck through patents prevents other companies from producing the same drug by copying the formulation of the drug from Merck.
Hence, the Merck company gets the monopolistic control on the production of the particular pharmaceutical drug and it can determine the price of the drugs as per not only its research and development costs but also as per its profit margin.
This is because Merck lacks any competitor in the pharmaceutical market as far as the particular pharmaceutical drug is concerned, who could produce and sell the drug at reduced prices.
Hence, the price of the pharmaceutical drug would be high causing the consumers to pay more and suffer losses for consuming the drug.
