Consequences of decriminalizing illegal drugs

Reference no: EM1374337

The consequences of decriminalizing illegal drugs have long been debated. Some claim that legalization will lower the price of these drugs and reduce related crime. Others claim that more people will use these drugs.

Assume that some of these drugs are legalized so that anyone may sell and use them. Now consider the two claims that price will fall and quantity demanded will increase. Based on positive economic analysis, are these claims sound?

Reference no: EM1374337

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