What will happen to existing supply avenues

Assignment Help Microeconomics

Reference no: EM133596660

Problem

Topic: Cannabis

There is much discussion in the press about the legalization of cannabis for medical and/or recreational purposes. Looking ONLY at the ECONOMIC impact of such changes in the laws, discuss how the existing system of supply and demand for illegal cannabis will be changed with the new legalization. Be sure to answer the following questions in your analysis.

A. What will happen to existing supply avenues?

B. Will legalization significantly change demand? If yes, how? If not, why not?

C. Would one expect cannabis prices to change significantly? If yes, how? If not, why not?

D. What would be the costs and benefits to governments, both in changes in enforcement requirements and in potential tax revenue? Be sure to provide examples from states that have experienced changes in revenue as a result of legalizing cannabis for either medical use or recreational use.

Reference no: EM133596660

Questions Cloud

What is the marginal cost for four aquariums : The AAA Aquarium Co. sells aquariums for $20 each. Fixed costs of production are $20. What is the marginal cost for 4 aquariums?

Differ from other forms of writing you are used to : In what ways does writing for intelligence differ from other forms of writing you are used to and what ways might other kinds of intelligence analysis

Are you performing tasks delegated by the surgeon : Are you performing tasks delegated by the surgeon? Is administration of a local anesthetic within your scope of practice? Can you perform this task

How do foreign interventions influence : How do foreign interventions influence the internal dynamics and stability of a nation undergoing civil unrest?" As you continue to read my prospectus

What will happen to existing supply avenues : What will happen to existing supply avenues? Would one expect cannabis prices to change significantly? If yes, how? If not, why not?

Do you agree that chelsea manning are whistleblowers : Do you agree that chelsea manning are whistleblowers? Why or why not?

Would you modify this bill to include more veterans : Would you modify this bill to include more veterans? If so, how would you modify the bill and why - Congress on the pilot program, and the VA must submit

Examine the democratic elements of policymaking : examine the democratic elements of policymaking in the Constitution and the subsequent formation of political parties and factions

What is the most each visitor would be willing to pay : A local amusement park currently charges for each ride individually. What is the most each visitor be willing to pay for the amusement parks unlimited use pass?

User Account

All Pages