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Answer to Question #117090 in Microeconomics for gayathiri
Question #117090
Suppose that campus authorities reduce the supply of alcohol on campus. Use demand and supply
graphs to illustrate the impact on the campus alcohol and marijuana markets.
graphs to illustrate the impact on the campus alcohol and marijuana markets.
Expert's answer
Supply of alcohol decreases. Therefore, the price for it rises.
Demand for marijuana increase. That is why, price for it rises.
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