Question
1) Like alcohol, the consumption of marijuana presents several social issues that policy makers must be careful to navigate. For each of the policy options
1) Like alcohol, the consumption of marijuana presents several social issues that policy makers must be careful to navigate. For each of the policy options being considered below, draw a separate supply and demand diagram for the market for recreational marijuana. Be sure to consider the fact that marijuana has the potential to be addictive. Draw your diagrams sufficiently large so that they are easy for me to read. a) Police are tasked with locating and removing illegal marijuana production facilities. Use a clear and accurately labelled supply and demand diagram to briefly explain the impact on market price, level of market activity and industry revenues. Who benefits from this policy? Who is earning this revenue? (eg. which sector of the economy?)
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