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i got these wrong, please help Question 13 1 points Save Answer Which one of the following is the likely outcome of the prevailing laws
i got these wrong, please help
Question 13 1 points Save Answer Which one of the following is the likely outcome of the prevailing laws aimed at reducing the supply of illegal drugs? O The laws reduce drug consumption but increase drug-related income and crime. O The laws reduce both drug consumption and drug-related income and crime. O The laws increase both drug consumption and drug-related income and crime. O The laws increase drug consumption but reduce drug-related income and crime.Question 14 1 points Save Answer If a 5 percent increase in price causes a 15 percent decrease in quantity demanded, what might be said about this product? O a. It might be a luxury. O b. It might be part of a broadly defined market. O c. It might be in a short time horizon. O d. It has no close substitute.Question 7 1 points Save Answer The price of a good rises from $8 to $12, and the quantity demanded falls from 110 to 90 units. Calculated with the midpoint method, what is the elasticity? O 1/5 O 1/2 0 2 0 5Step by Step Solution
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