Question
Assume that you studied the market for heroin and you find that the demand for heroin is perfectly inelastic. Consumers will always buy 757 kilos
Assume that you studied the market for heroin and you find that the demand for heroin is perfectly inelastic. Consumers will always buy 757 kilos of heroin. Then you estimate that the supply for heroin is QS of Heroin = 37.3 P + 37.2
What is the market equilibrium price of Heroin?
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Understanding The Law
Authors: Donald L Carper, John A McKinsey, Bill W West
5th Edition
0324375123, 9780324375121
