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Hey qasimali4 , god I hope you receive this question because you've been a massive help to me thus far!! I've got practice exam questions
Hey qasimali4, god I hope you receive this question because you've been a massive help to me thus far!! I've got practice exam questions that I am struggling to answer and more graphs to draw.
Question 1. Suppose the government increases the number of customs inspectors and police officers to prevent drug imports, how can I Illustrate the impact of this policy in the market for illegal drugs using demand and supply curves? the diagram should have clearly labelled axes and to indicate whether the policy affects the demand or supply curve. Lastly, to indicate the market equilibrium before and after the government policy is introduced.
Question 2. Will the government's approach to tackle the drug problem in question 1 result in increase or decrease in drug-related crimes? Discuss the answer. [Hint: To answer this question, consider what will happen to 'Total Expenditure' on drugs as a result of the policy. If the policy raises the amount of money drug users have to pay for drugs, then it would lead to increase in drug related crimes. On the other hand, a reduction in the amount of money drug users have to pay would be associated with commission of less drug related crimes]
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