Question
Third (3rd) Mid-Term Extra Bonus Credit Question...... In Chapter 5, (Elasticity And It's Applications), Figure 9 (page 105), highlights how Supply, Demand & Elasticity can
Third (3rd) Mid-Term Extra Bonus Credit Question......
In Chapter 5, ("Elasticity And It's Applications), Figure 9 (page 105), highlights how Supply, Demand & Elasticity can be used to address various social issues such as drug interdiction and drug education. Again, refer to Chapter 5, Figure 9, panels A & B, page 105.
Question: If you were an advisor to POTUS (President), what policies would you recommend to reduce the illegal use of drugs from a short and long run perspective based on your Econ knowledge of Elasticity, Supply, Demand and effects on Price & Quantity ?
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As an advisor to the President my recommendations to reduce the illegal use of drugs would be rooted in economic principles of elasticity supply and d...
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Basic Econometrics
Authors: Damodar N. Gujrati, Dawn C. Porter
5th edition
73375772, 73375779, 978-0073375779
