Supply, Demand and Price Elasticity of Demand Assignment | Homework For You

Author:

December 3rd, 2019

a. Consider the sale or possession of illegal drugs and the effect of drug prohibition laws in terms of supply, demand and price elasticity of demand. Suppose that there is a drug raid in the city where drug enforcement authorities manage to confiscate a substantial amount of cocaine supply. As a result of this, the quantity demanded for cocaine drops from 1,000 grams to 600 grams as the price increases from RM50 per gram to RM120 per gram.

Don't use plagiarized sources. Get Your Assignment on

Just from $13/Page

Order Now

i. Use a graph to illustrate the changes in demand and/or supply resulting from the drug raid.

ii. Compute the price elasticity of demand for cocaine. Is demand elastic or inelastic? How can you explain this?

iii. What can you say is the ‘unintended effect’ of this drug raid by authorities in terms of revenue to the suppliers? What other consequences may it lead to? Get Economics homework help today

Calculate the price

Make an order in advance and get the best price

Type of paper

Academic level

Deadline

Pages (550 words)

$0.00

*Price with a welcome 15% discount applied.

Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.

We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.

How it works

Receive a 100% original paper that will pass Turnitin from a top essay writing service

step 1

Upload your instructions

Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.

step 2

Control the process

Once you place an order with our professional essay writing services, we will email you login details to your account. There, you'll communicate with the writer and support team and track the writer's progress.

step 3

Download your paper on time

As soon as your work is ready, we’ll notify you via email. You'll then be able to download it from your account and request a revision if needed. Please note that you can also rate the writer's work in your account.

Pro service tips

How to get the most out of your experience with Homework Writing Services

One writer throughout the entire course

If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.

The same paper from different writers

You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."

Copy of sources used by the writer

Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.

Testimonials

See why 20k+ students have chosen us as their sole writing assistance provider

Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.

Entertainment & Gaming

Good work.

Customer 452441, April 4th, 2022

English 101

Order was late

Customer 462805, April 4th, 2022

History

Just impeccable!

Customer 463001, May 19th, 2022

Nursing

thks

Customer 453939, January 27th, 2020

Social Work and Human Services

Good work.

Customer 460073, June 23rd, 2022

Computer science

Excellent.

Customer 462387, April 4th, 2022

Science

Good one.

Customer 453625, May 21st, 2022

community health

Thank you!!!

Customer 463301, September 1st, 2022

Business and administrative studies

Great effort.

Customer 452615, May 19th, 2022

Nursing

This revised version was far better than that of the first I received. Thank you so very much for the prompt service.

Customer 454007, March 16th, 2020

Business and administrative studies

Great effort.

Customer 458115, May 2nd, 2022

Military

Excellent Paper

Customer 456821, December 6th, 2022

11,595

Customer reviews in total

96%

Current satisfaction rate

3 pages

Average paper length

37%

Customers referred by a friend

OUR GIFT TO YOU

15% OFF your first order

Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.

Claim my 15% OFF Order in Chat