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In terms of standard economic theory, discuss the monopoly and other models that explain the supply of illicit drugs. Discuss the different views of price
- In terms of standard economic theory, discuss the monopoly and other models that explain the supply of illicit drugs.
- Discuss the different views of price elasticity of demand with regard to addictive consumption.
- Explain why the economics of prohibition depends upon the microeconomic theories of behavior (hint: rational or non-rational behavior).
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