If marijuana were legalized, it is likely that there would be an increase in the demand for marijuana. If demand for marijuana is inelastic and the supply of marijuana is perfectly elastic, this will result in a. the same price but lower total revenue from marijuana sales. b. higher prices and higher total revenue from marijuana sales. c. higher prices but lower total revenue from marijuana sales. d. the same price and higher total revenue from marijuana sales.
+1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If marijuana were legalized, it is likely that there would be an increase in the demand for marijuana. If demand for marijuana is inelastic ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » If marijuana were legalized, it is likely that there would be an increase in the demand for marijuana. If demand for marijuana is inelastic and the supply of marijuana is perfectly elastic, this will result in a.