Imagine that the government wages a major war on illicit drugs. Assuming that at the point of initial market equilibrium demand for illicit drugs is ELASTIC, what should happen to the amount of money that the drug dealers are getting from selling the drugs if the government measures are successful and the supply of illicit drugs at the market drops? The amount of money received by the drug dealers goes down The amount of money received by the drug dealers does not change The amount of money received by the drug dealers goes up

Imagine that the government wages a major war on illicit drugs. Assuming that at the point of initial market equilibrium demand for illicit drugs is ELASTIC, what should happen to the amount of money that the drug dealers are getting from selling the drugs if the government measures are successful and the supply of illicit drugs at the market drops? The amount of money received by the drug dealers goes down The amount of money received by the drug dealers does not change The amount of money received by the drug dealers goes up

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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