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Final Exam

Chapter 9 Progress

Wrapping It All Up!

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bio's Challenge
Question 1 of 33

The **(?)** is an implicit agreement between the biotechnology industry and society. In this agreement, drug makers are allowed to charge high prices for a limited time in order to incentivize risky and expensive drug R&D with no guarantee of success, which fuels innovation. Once patents expire, generic versions of the drugs become available, making them significantly cheaper and accessible to a wider population.