The drug approval process regulated by the Federal Drug Administration (FDA) slows the pace at which helpful medications reach the marketplace. The alternative of having the medication available to consumers earlier is an example of:

Question

Quizplus · Accepted Answer

The opportunity cost is the benefit that could have been received by choosing an alternative option. In this case, the alternative option would be to have the medication available to consumers earlier. This means that the benefit of having the medication available earlier is being sacrificed due to the FDA's regulations. Therefore, choice A is the best answer. Choice B is not relevant to the question. Choice C assumes that the FDA's regulation has a high marginal benefit, which is not mentioned in the question. Choice D is incorrect as it does not address the question of the trade-off between delayed availability of medications and the benefits of FDA regulation.

The Drug Approval Process Regulated by the Federal Drug Administration