PRINCIPLES OF MICROECONOMICS (OER)
PRINCIPLES OF MICROECONOMICS (OER)
2nd Edition
ISBN: 9781947172340
Author: Timothy Taylor, Steven A. Greenlaw
Publisher: OpenStax
Textbook Question
Book Icon
Chapter 18, Problem 20CTQ

To ensure safety and efficacy, the Food and Drug Administration regulates the medicines that pharmacies are allowed to sell in the United States. Sometimes this means a company must test a drug for years before it can reach the market. We can easily identify the winners. in this system as those who are protected from unsafe drugs that might otherwise harm them. Who ate the more anonymous losers who suffer from strict medical regulations?

Blurred answer
Students have asked these similar questions
Explain how the Orphan Drug Act would affect drug development. Can you think of any TRADEOFFS from the act?
Should insurers be allowed to refuse health insurance policies to individuals who are genetically predisposed to certain diseases? To those whose lifestyles place them in high-risk categories for certain diseases? Support your answers.
What are the potential benefits of reducing the availability of illegal drugs versus reducing the demand for such substances?

Chapter 18 Solutions

PRINCIPLES OF MICROECONOMICS (OER)

Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
EBK HEALTH ECONOMICS AND POLICY
Economics
ISBN:9781337668279
Author:Henderson
Publisher:YUZU
Text book image
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc