If marijuana were legalized, it is likely that there would be an increase in the supply of marijuana. Advocates of marijuana legalization argue that this would significantly reduce the amount of revenue going to the criminal organizations that currently supply marijuana. These advocates believe that the a. supply for marijuana is elastic. b. demand for marijuana is elastic. c. supply for marijuana is inelastic. d. demand for marijuana is inelastic.

Question

Pittman

Social Studies

14 December, 13:29

If marijuana were legalized, it is likely that there would be an increase in the supply of marijuana. Advocates of marijuana legalization argue that this would significantly reduce the amount of revenue going to the criminal organizations that currently supply marijuana. These advocates believe that the a. supply for marijuana is elastic. b. demand for marijuana is elastic. c. supply for marijuana is inelastic. d. demand for marijuana is inelastic.

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Greta Sanford · Answer 1

d.

Explanation:

These advocates believe that

d. demand for marijuana is inelastic

According to the advocates marijuana legalization argue that this would significantly reduce the amount of revenue going to the criminal organizations that currently supply marijuana.

Inelastic demand in economics means that people buy the product in same amount whether price rises or drops.