Week 3 Discussion
Question Description
There are two discussion questions. You will need to answer both questions in order to receive full credit. Please review the Discussion & Peer Review Rubric.
Discussion Questions:
- In 2004, Congress allocated over $20 billion to fight illegal drugs. About 60 percent of the funds was directed at reducing the supply of drugs through domestic law enforcement and interdiction. Some critics of this approach argue that supply-side approaches to reduce the drug supply actually helped drug producers.
- Demonstrate graphically the effect of supply-side measures on the market for illegal drugs.
- Explain how these measures affect drug producers. (Hint: Consider the elasticity of demand).
- Demonstrate the effect of demand-side measures such as treatment and prevention on the market for illegal drugs.
- How does the shift in demand affect the profitability of producers?
- In 2004, the University of California education system drastically cut enrollment due to significant state budget cuts and asked 7,600 applicants to defer enrollment for two years after completing two years at a community college. Tuition costs remained fixed by the state.
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- Demonstrate the situation described with supply and demand curves, carefully labeling any excess supply or demand for college admission.
- What is the market solution to the excess demand for college?
- What is a possible reason the market solution was not pursued?
- submit your graph as a jpg attachment in your original discussion post
- Each discussion topic will be “Open” for a one-week period. There are two aspects to discussions: an original post and response to a response to peers.
- You are required to post one “substantive” posting addressing the course material. By “substantive,” I mean not merely providing a brief “yes, I agree” or “no, I do not agree” posting, but discussing the issues in some depth, providing your own thoughts or questions on the matter. Ideally, I’d like you to connect and integrate the discussion prompt to the course lectures, class discussions, and course textbook (whenever possible). The more evidence that shows you are doing the readings and engaging with them, the better. In your posting, avoid making unsubstantiated assertions and claims. Support your point with evidence from the textbook or other websites (include citations), whenever possible. Some possible ideas to write about include, describing any connections between the readings or course material, expanding on a concept or idea that struck you in the course material, or offering another explanation or illustrative example. (minimum of 250 words)
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