Question
When there is a market, both consumers and producers benefit from it and society's well-being improves as the result. But there are cases where the
When there is a market, both consumers and producers benefit from it and society's well-being improves as the result. But there are cases where the government does not allow a free market to work by making the selling and buying of that specific good or service illegal.
Pick only one of those market and discuss the potential consumer and producer surplus in that market and discuss what is the argument for the government to make it illegal. Do you agree with the government policy? Or prefer some form of legalization? (Don't mention about illegal drugs).
Include the graph (a typical supply and demand graph). Also, on the graph show the surpluses.
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