Question

Do you believe the elasticity of illicit narcotics is inelastic and if legalized demand will not increase? Do you also believe that many of society's social ills associated with drugs will ease not only from the narcotics being legalized, but also from the taxes garnered from its legalization used to assist addicts?

Or do you believe the elasticity of illicit drugs is elastic and if legalized the demand for these drugs will increase? Do you also believe that by legalizing illegal drugs will create addicts out of those who simply "dabble" in drugs thus putting a further strain on society, which the tax benefits gained from legalizing it cannot absorb?

THanks for whoever help this

Answer 1

Q.1

Ans.

We believe that the demand for the illegal goods like narcotics is elastic and not inelastic as many people argue.
We do not believe that the elasticity of illicit narcotics is inelastic and if legalized demand will not increase.
The reason being while there are people for whom the price of the narcotics does not matter and they will consume at any price , where are many people who are like dabblers for whom the demand is elastic. IF the price is low and it is legally available they will consume , otherwise if its price is high and its illegal they may stay away from it.
We do not believe that legalizing it will eradicate the society’s problems. Also legalizing it may increase the demand for it considering it more socially acceptable and the no of people who consume it may go very high and we may incur way higher cost on the medical and health and also it can affect the economic development and cause social unrest.