The information below is about how the price of marijuana changed after it was legalized in Washington State. i. "The average retail price per gram (pre-tax) of flower was a gut-punching $23.28 in the first 3 months of sales (July-September 2014), in fact prices climbed 9 percent from July to August and hit a peak of $24.45 before starting the long slide downward." ii. "In March 2017, the average price was 24% of where they were 31 months earlier." v This shows that initially, the marijuana increased, A. demand for v then the marijuana increased. B. supply of v Eventually, the change in supply was demand. than the change in C. larger D, smaller

The information below is about how the price of marijuana changed after it was legalized in Washington State. i. "The average retail price per gram (pre-tax) of flower was a gut-punching $23.28 in the first 3 months of sales (July-September 2014), in fact prices climbed 9 percent from July to August and hit a peak of $24.45 before starting the long slide downward." ii. "In March 2017, the average price was 24% of where they were 31 months earlier." v This shows that initially, the marijuana increased, A. demand for v then the marijuana increased. B. supply of v Eventually, the change in supply was demand. than the change in C. larger D, smaller

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 32CTQ: Suppose you could buy shoes one at a time, miter than in pain. What do you predict the cross-price...

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The information below is about how the price of marijuana changed after it was legalized in Washington State.
i. "The average retail price per gram (pre-tax) of flower was a gut-punching $23.28 in the first 3 months of sales (July-September 2014), in fact prices climbed 9
percent from July to August and hit a peak of $24.45 before starting the long slide downward."
ii. "In March 2017, the average price was 24% of where they were 31 months earlier."
v This shows that initially, the
marijuana increased,
A. demand for
v then the
marijuana increased.
B. supply of
than the change in
v Eventually, the change in supply was
demand.
C. larger
D. smaller

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