What Is the Purpose of an Institutional Review Board

question 71

Multiple Choice

What is the purpose of an institutional review board?

• A)to safeguard the rights and welfare of research participants
• B)to hinder the research process by placing unnecessary hurdles in the way of researchers
• C)to help protect the university from lawsuits from unhappy research participants
• D)to encourage the use of deception in medical and psychological research with humans

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Definitions:

Monopolistically Competitive Firm

A Monopolistically Competitive Firm operates in a market structure characterized by many firms offering products that are similar but not identical, allowing for some degree of market power in setting prices.

Homogeneous

A description of products or services that are identical in quality and cannot be distinguished from one another by consumers.

Monopolistically Competitive

Describing a market structure where many companies sell products that are similar but not identical, leading to competitive prices and product differentiation.

Demand Schedule

A chart that displays the quantity of a good or service demanded at various prices.