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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

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?

To determine

The more anonymous losers who are suffering from the medical regulations which are very strict are to be determined.

Explanation

The regulations enacted in the United States under which for ensuring the safety and efficacy, the medicines for selling to the patients are regulated by the food and drug administration. This means that the administration will approve the drugs and medicines before it is gone to drug seller to sell in the market. This process takes a long time as doing research, testing, and etc...

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