During Drug Testing and Approval,the Drug Is Usually Tested in a Relatively

question 2

Multiple Choice

During drug testing and approval,the drug is usually tested in a relatively small sample (200 to 300 people) with a specific disease or pathologic condition during:

• A)preclinical trials.
• B)phase 1 clinical trials.
• C)phase 2 clinical trials.
• D)postmarketing surveillance.
• E)none of the above

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Definitions:

Responsiveness of Price

The degree to which the demand or supply of a product changes in response to a change in price.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the extra satisfaction or utility gained.

Market Price

is the current price at which a product, security, or commodity can be bought or sold in a marketplace.

Value

An individual’s value for a good or service is the amount of money he or she is willing to pay for it.