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If marijuana were to be legalized in the US What would happen to the equilibrium price and quantity of marijuana?
Let's look at California for an example. Legalizing pot there would result in a $1.5 billion a year increase in tax revenues for the state. The price would decrease 50%, and use would increase 40%. There would be restrictions that you must be over 21 to use the plant, and it would be regulated much like alcohol. It would be legal to purchase, grow, sell, and smoke.
What else can I help you with?
What will happen to the equilibrium price and quantity of a normal good if the demand for the good increases and supply constant?
the equilibrium price rises and the quantity increases
If marijuana were to be legalized in the US What would you predict would happen to the equilibrium price and quantity of marijuana?
the price would go up and the drug wars would continue would increase there would be more laws and stiffer laws if you get caught smoking. look at the laws now about cigarettes can't smoke here can't smoke there it would be the same for smoking a joint . only the man would come down harder cause it the law man.
What would happen to the equilibrium price and quantity exchanged if an increase in income and a decreasing price of complement for a normal good?
the equilibrium price and quantity exchanged will go up because thr curve of demand shift rightward in both situations.
If supply shifts in (leftward) and simultaneously demand shifts out (rightward) what can we expect to happen to the equilibrium price and quantity?
When supply shifts leftward (decreasing supply) and demand shifts rightward (increasing demand), the equilibrium price is likely to rise due to the increased competition for a limited quantity of goods. However, the effect on equilibrium quantity is uncertain; it may either increase or decrease depending on the magnitude of the shifts in supply and demand. If the increase in demand is greater than the decrease in supply, quantity will rise, but if the decrease in supply is greater, quantity will fall. Thus, while we can expect a higher equilibrium price, the change in quantity will depend on the relative shifts.
When will Marijuana be legalized for recreational use in Washington State?
We do not know when it will happen, but the chances are very small. Legalizing for medical use might be more reasonable. Avoid having problems with the federal as much as we can.
When does market equilibrium happen?
At market equilibrium, the price and quantity demanded are at a point where they will not vary much. Consumers are unwilling to buy the good at a higher price. Producers are unwilling to produce anymore goods at the same price.
What would happen to a a system at equilibrium if the temperature were changed?
the equilibrium constant would change
What would happen to a system a equilibrium if the temperature were changed?
the equilibrium constant would change
If the demand for a product remains the same and the supply increase what will happen to the equilibrium price?
If there is an increase in supply, the supply curve will be shifted to the right. This leads to a decrease in the equilibrium price and an increase in equilibrium quantity. This is easy to see if you draw it out.
What happen when quantity supplied exceeds quantity demanded?
Graphically, the Y axis is price and the X axis is quantity. The demand curve slopes downward, while the supply curve slopes upward. When quantity demanded exceeds quantity supplied the market is out of equilibrium. As a result, the price of goods increases, thereby decreasing the quantity demanded. This is characterized as a move up along the demand curve and not a shift. Changes in endogenous variables, ie price and quantity, are just movements along the curve.
What can happen to you if you do marijuana?
brain damage
Will same-sex marriage be legalized in Illinois?
Yes. This will happen on June 1, 2014.
