UOP ECO/ 561T ECONOMICS WEEK 2 DISCUSSION

Respond to the following in a minimum of 175 words:

  • Read the following statement and discuss if you agree or disagree, and your rationale: If the demand of illegal drugs is inelastic, increased arrests of illegal-drug sellers will increase total expenditures on illegal drugs.
  • Discuss at least 2 reasons for the change in this scenario: Early suppliers of more fuel-efficient cars were able to charge premium prices for them, but that ability faded as other suppliers adopted similar technologies.

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