The consequences of decriminalizing illegal drugs have long been debated. Some claim that legalization will lower the price of these drugs and reduce related crime. Others claim that more people will use these drugs. Suppose that some of these drugs are legalized so that anyone may them and use them. Based on positive economic analysis, such decriminalization will lead to A. a reduction in quantity demanded of these drugs and an increase in price. B. an increase in quantity demanded of these drugs and in price. C. a reduction in both quantity demanded of these drugs and in price. D. a reduction in price of these drugs and an increase in quantity demanded.
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Step 2: Analyze the effects of decriminalization on supply and demand. Decriminalization means that the legal penalties for possessing or using these drugs are reduced or eliminated. This has several economic implications: * **Supply Side:** Decriminalization Show more…
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