An Example of Personalized Medicine Would Be

question 21

Multiple Choice

An example of personalized medicine would be

• A) treatment of an infection based on the drug resistance of the bacterium.
• B) treatment of diabetics with synthetic instead of natural insulin.
• C) determining the CYP2C9 alleles present to help set the patient's coumarin dose.
• D) performing an appendectomy on a patient with appendicitis.

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Definitions:

Perfectly Elastic

Describes a situation where the quantity demanded or supplied responds infinitely or by unlimited quantity to any change in price, represented graphically as a horizontal line.

Quantity Demanded

The amount (number of units) of a product that a household would buy in a given period if it could buy all it wanted at the current market price.

Breaks Even

Achieves a situation where there is no profit or loss, synonymous with the concept of the break-even point but phrased differently.

Perfectly Competitive

Describes a market structure where no single buyer or seller has market power, products are homogeneous, information is freely available, and there is free entry and exit of firms.