19 The table sets out the demand and supply schedules for an illegal drug. a If there...

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19 The table sets out the demand and supply schedules for an illegal drug.

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a If there are no penalties on buying or selling the drug, what is the price and how many units a day are consumed?
b If the penalty on sellers is €20 per unit, what are the price and the quantity consumed?
c If the penalty on buyers is €20 per unit, what are the price and the quantity consumed?

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Economics

ISBN: 9781118150122

10th European Edition

Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews

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