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Increasing the length of human clinical drug trials will increase the price of drugs.

Increasing the length of human clinical drug trials will increase the
price of drugs. (True/False/Uncertain)

A risk averse individual has greater incentive to buy insurance against
high probability events. (True/False/Uncertain)
Describe the pricing practices of pharmaceutical companies. What
drives pricing discounts? Describe the life cycle of a new drug. Evaluate
the economic effects of price controls on prescription drugs. Describe how
the FDA balances concerns over drug safety and prospective benefits of
innovative drugs.

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