Question

In: Economics

Which of the following graphs illustrates the change in the market for marijuana, described in the video?


Which of the following graphs illustrates the change in the market for marijuana, described in the video?

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Solutions

Expert Solution

When a famous celebrity advertises the movie, then the demand for movie tickets will increase and therefore the demand curve shifts rightward from D1 to D2. Therefore equilibrium price and quantity both will increase.

This has been shown by the diagram A.


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