Graph the market for an illegal drug and explain the shape of each curve. List at least four ways the US govt. fights the “war on drugs” and identify each as either a supply-side or a demand-side strategy. On a new graph, illustrate a large decrease in supply and explain the result in terms of market P and Q. On a third graph, illustrate a small decrease in demand and explain the new result. Based on Parts 3 and 4, which strategies—supply or demand—are more effective in decreasing quantities of illegal drugs that are exchanged in these markets? If you were the head of the US Congressional Finance Committee, how would you allocate funds among these strategies and why?

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Graph the market for an illegal drug and explain the shape of each curve. List at least four ways the US govt. fights the “war on drugs” and identify each as either a supply-side or a demand-side strategy. On a new graph, illustrate a large decrease in supply and explain the result in terms of market P and Q.

Graph the market for an illegal drug and explain the shape of each curve. List at least four ways the US govt. fights the “war on drugs” and identify each as either a supply-side or a demand-side strategy. On a new graph, illustrate a large decrease in supply and explain the result in terms of market P and Q.

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter1: Introducing The Economic Way Of Thinking

Section: Chapter Questions

Problem 7SQ

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