The Federal Drug Administration 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

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The alternative of having the medication available to consumers earlier represents the opportunity cost of the Federal Drug Administration's regulation. By slowing down the approval process, the FDA aims to ensure that drugs are safe and effective before they can be marketed to the public. However, this also means that patients may have to wait longer for access to new treatments, and some may miss out on potentially life-saving therapies. Therefore, the opportunity cost of the FDA's regulation is the benefits that could have been gained if these drugs had been available sooner.

The Federal Drug Administration Slows the Pace at Which Helpful