Is There an Association Between Support for the Legalization of Marijuana

question 52

Essay

Is there an association between support for the legalization of marijuana and age? Calculate percentages,Cramer's V and lambda for the table below and write a sentence or two assessing the strength and pattern or direction of the relationship.
$\begin{array}{|l|l|l|l|l|l|}\hline&&\text { Age }\\\hline&& \text { Less than } 35 & 35-50 & 50 \text { and Odder } \\\hline \text { Support }&\text { InFavor } & 36 & 23 & 17 & 76 \\\hline& \text { Neutral } & 20 & 17 & 16 & 53 \\\hline &\text { Opposed } & 10 & 18 & 36 & 64 \\\hline && 66 & 58 & 69 & 193 \\\hline\end{array}$

Analyze the rationale behind public ownership of monopolies and its effects on market efficiency and social welfare.

Understand the basic principles of a perfectly competitive market.

Analyze the relationship between marginal revenue, average revenue, and total revenue in competitive markets.

Comprehend the role of price takers within competitive markets.

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Definitions:

Regulatory Capture

A situation where regulatory agencies are dominated by the interests of the industries they are charged with regulating, often leading to biased and ineffective regulation.

Negative Externalities

Costs that are not reflected in the market price, caused by the production or consumption of goods and services, and borne by society rather than the producers or consumers.

Earmarks

Provisions within legislation that allocate specific funds to certain projects, often without a competitive bidding process.

Federal Government Legislation

Laws and regulations created and enacted by the national government of a country.