If marijuana were legalized, it is likely that there would be an increase in the supply of marijuana. Advocates of marijuana legalization argue that this would significantly reduce the amount of revenue going to the criminal organizations that currently supply marijuana. These advocates believe that the

a. supply for marijuana is elastic.
b. demand for marijuana is elastic.
c. supply for marijuana is inelastic.
d. demand for marijuana is inelastic.

d

Economics

You might also like to view...

Define and explain how we calculate the marginal propensity to consume and the marginal propensity to save

What will be an ideal response?

Economics

When expansionary monetary policy pushes interest rates to artificially low levels,

a. the demand for and prices of interest-sensitive goods, like housing, will increase. b. people will delay their purchases of interest-sensitive goods, like housing, into the future. c. the demand for interest-sensitive goods, like housing, will increase, but their prices will decline. d. the demand for and prices of interest-sensitive goods, like housing, will decline.

Economics