​Two Research Teams Are Both Experimenting with New Treatments for a Medical

question 15

Multiple Choice

​Two research teams are both experimenting with new treatments for a medical condition. In one study, the condition involved currently has no treatment; in the other, there is an accepted treatment, to which the researchers seek alternative and/or improved options. Both studies are comparing an experimental treatment to a placebo. Ethically, what is the most likely opinion?

• A) ​Both studies are unethical because patient welfare is not the first priority.
• B) ​The study wherein an accepted standard of care exists may be unethical.
• C) ​The study wherein no treatment exists for the condition is less ethical.
• D) ​Both studies are ethical because testing new treatments is necessary.

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Definitions:

Zero Production Costs

The hypothetical situation in which a good or service can be produced with no expenditure or effort, leading to an unlimited supply.

Profit-Maximizing Monopolist

A monopolist that sets its output and price levels to achieve the highest possible profit, given its unique position as the sole supplier in the market.

Demand Schedule

A chart or table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices.

Elastic Segment

refers to a portion of the market where demand is highly sensitive to changes in price.