Use the following diagram to answer the following questions.

-Refer to Nirvana. Suppose a new drug, nirvana, were made illegal. We would expect:

Name: Use the following diagram to answer the following questions. -Refer to Nirvana. Suppose a new drug, nirvana, were made illegal. We would expect:
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Question

Use the following diagram to answer the following questions.
 
-Refer to Nirvana. Suppose a new drug, nirvana, were made illegal. We would expect:

Quizplus · Accepted Answer

When a product becomes illegal, its supply decreases, and due to the demand for the product remaining constant, price increases. Therefore, we would expect the price of nirvana to increase to P₂.

Use the Following Diagram to Answer the Following Questions