If the purchase and sale of a currently illegal drug (for example,marijuana)were decriminalized,economists would expect
A)an increase in demand and supply of this drug.
B)an increase in demand and a decrease in supply of this drug.
C)a decrease in demand and an increase in supply of this drug.
D)a decrease in demand and supply of this drug.

Question

Quizplus · Accepted Answer

When the purchase and sale of a currently illegal drug is decriminalized, it is likely to lead to an increase in demand and supply of the drug. This is because the legal risks associated with the production, sale, and use of the drug would be reduced, leading to a lower price and greater accessibility. As a result, more people would be inclined to use the drug, while suppliers would be incentivized to increase the amount of the drug available in the market.

If the Purchase and Sale of a Currently Illegal Drug