Illegal drugs is falling, You learn that the market price

Illegal drugs is falling

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Reference no: EM137170

A fictional survey shows a decrease in drug use by young people in Brooklyn. In the ensuing debate, two hypotheses for the decreased drug use are proposed:

(1) Increased police efforts have decreased the availability of drugs on the street and
(2) Pursuing drug education efforts have increased awareness of the dangers of addiction.

a) Use supply and demand diagrams to show how each of these claims is consistent with a fall in the quantity of drugs consumed.

b) You learn that the market price of illegal drugs is falling. Which hypothesis is consistent with this information on drug prices?

Reference no: EM137170

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