If drugs such as marijuana and cocaine were legalized, it would be likely that
a. their prices would decrease.
b. there would be a reduction in tainted or poor quality drugs.
c. there would be less violence occurring in drug transactions.
d. all of the above.
D
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A private good is
A) a good that is rival and excludable. B) a good that is rival and nonexcludable. C) a good that is nonrival and excludable. D) a good that is nonrival and nonexcludable.
An economy without money would have no exchanges of goods and services
Indicate whether the statement is true or false
The long run is a period of:
a. at least one year. b. sufficient length to allow a firm to expand output by hiring additional workers. c. sufficient length to allow a firm to alter its plant size and capacity and all other factors of production. d. sufficient length to allow a firm to transform economic losses into economic profits by hiring better workers.
Free markets can:
a. prouduce goods and services with maximum efficiency b. solve unemployment c. protect the environment d. all of these