If Marijuana Were Legalized, It Is Likely That There Would

question 163

Multiple Choice

If marijuana were legalized, it is likely that there would be an increase in the demand for marijuana. If demand for marijuana is inelastic and the supply of marijuana is perfectly elastic, this will result in

• A)higher prices and higher total revenue from marijuana sales.
• B)higher prices but lower total revenue from marijuana sales.
• C)the same price and higher total revenue from marijuana sales.
• D)the same price but lower total revenue from marijuana sales.

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Definitions:

Cultural Circumstances

The societal, economic, and historical conditions that influence the beliefs, behaviors, and practices of individuals or communities.

REM Sleep

Rapid eye movement sleep, in which an individual’s brain wave activity is remarkably similar to that of the waking state but the individual is asleep.

Experience-expectant

A term related to brain development, referring to the process by which the brain evolves in response to general environmental stimuli that are expected to occur in all typical environments.

Sensory Deprivation

A condition in which one or more of the senses is diminished or eliminated, often for therapeutic or experimental purposes.