Drug interdiction, which reduces the supply of drugs, may decrease drug-related crime because the demand for drugs is inelastic. O True O False
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Drug interdiction, which reduces the supply of drugs, may decrease drug-related crime because the demand for drugs is inelastic. O True O False
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- What are the potential benefits of reducing the availability of illegal drugs versus reducing the demand for such substances?When the FDA lifted restrictions of TV advertisements for prescription medication in 1997, How has the regulatory affected the market for pharmacuticals?What is the term that economists use for pricing that is inconsistent among consumers? a. moral hazard b. price discrimination c. adverse selection d. uniform distribution
- What are some ways drug use has changed from early times to modern times ? What are some predictors of increased or decreased drug use in society ?What are the problems associated with changing the statistics in drug research?. “Drug use is a classic example of a victimless crime.Therefore it should not be prohibited.” Comment.
- II. True or False 1, Warranty can serve as a signaling device of a productliability, because consumers take more care about the product provided by reliable firm. 2. When using Hypothetical monopolist test to define the relevant market for a food delivery platform, it is important to do test not only on a small increase in the food delivery fee, but also the increasing comission charged on the restaurant side. 3, A firm with trusted brand has no incentive to cheat consumers because the fly-by-night profit of cheating is not attractive compared to the long run reputation premium. 4. After the milk crisis of 2008, despite the effort of some dairy firms to improve food safety, consumers are still skeptical for the domestic dairy product because their belief on food safety is based on the whole industry's past, instead of the individual firm's past.True or False: Most used cars have a full warranty. O True O FalseExplain how the opioid epidemic could be ia supply problem caused by the oversupply of prescription pain meds, drug traffickers and illegal drug manufacturers. Draw a graph.
- Which of the following statements is not correct concerning government attempts to reduce the flow of illegal drugs into the country? Drug interdiction a. raises prices and total revenue in the drug market. b. can increase drug related crime c. shifts the demand curve for drugs to the left. d. shifts the supply curve of drugs to the left.Why does taking a drug off a formulary increase the prices to the consumer?In the United States, most hospitals are non-profit, while nearly all pharmaceutical companies are for profit. Can you offer an explanation based on the consumer shopping problem?