Question

You are hired as an economic consultant by a state government that w like to analyse th your answer you should use appropriate models (and diagrams) studied in class. impact of legalization of mar n Of ǐftre na tak ng acco otential mar e ucture . n Assume for now that the marijuana market is a single-price monopoly where market demand is linear and downward-sloping and the suppliers' marginal cost is upward sloping. 3. The state government tells you that the alcohol (i.e., liquor, wine and beer) industries have expressed concern about the legalization of marijuana and how this might affect their sales. Explain to the state government why the alcohol in dustry might be concerned about their sales.(3 marks)

Answer 1

Ans

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