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When William Bennett was director of the United States Offic

Paper help Economics When William Bennett was director of the United States Offic

Economics

When William Bennett was director of the United States Offic

When William Bennett was director of the United States Office of National Drug Control Policy, he s… Show more When William Bennett was director of the United States Office of National Drug Control Policy, he sent a letter to Ann Landers attacking one of her correspondents who had advocated the legalization of drugs. Here is one paragraph from the letter: “Drugs would become much cheaper-at least one-fifth the cost. Then five times as many people could and would buy them. We would then have five times as many addicts. This means instead of only 100000 addicted babies being born to addicted mothers each year ‘, we would have half a million,” What assumptions is he making about the demand for drugs? I cant find the elasticity but i know its very elastic market. • Show less

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