Please correct answer and don't use hend raiting Cannabis legalization is likely to increase both supply and demand for cannabis. As a result, we wouldexpect the new post-legalization equilibrium quantity to be:A. The same as pre-legalizationB. Greater than pre-legalizationC. Less than pre-legalizationIf the demand and supply elasticities are similar and supply shifts out by more than demand, then whatcan we say about the post-legalization price:A. The post-legalization price will be approximately the same as the pre-legalization price.B. The post-legalization price will be lower than pre-legalization.C. The post-legalization price will be higher than pre-legalization.

1. Equilibrium Amount Following LegitimationIt is anticipated that as cannabis becomes legal, both…

Answered: Cannabis legalization is likely to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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