https://www.youtube.com/watch?v=xcUOIZF5CRQ&feature=youtu.be In the video shown, the actual President of the United States claimed that the drug abuse of opioids has to be ended. Please answer the following questions: 1. What are the differences between the application of strict enforcement against the drug abuse on the supply side and the demand side of the market of opioids? 2. Which measures mentioned in the video would affect the demand side of the market; which are those that will be impacting the supply side? 3. What is the U.S. history of the war on drugs (in general): decreasing demand or decreasing supply up to the present. (Mention different government administrations) 4. Use the graph of supply and demand to explain the characteristics of the market for hard drugs. What do you expect if the policy affects the supply only; or, if the policy affects the demand only. (Shift first the demand and keep the supply fixed. Then in other graph shift the demand and set the supply fixed). 5. Imagine that you are an economist working as a policymaker at the U.S. Department of Health and Human Services. You have to use your economic analysis to provide a good support recommendation. What would be your advice about the impact of elasticity price on the demand for hard drugs on the policy to control the crime issues? Do you advocate prohibition drugs? Why? or you advocate the legalization of drugs? Why? Requirements: Paper must be at least 500 words. MLA format required – All sources of information should be cited, including text or videos. Direct definitions, phrases, and ideas should be quoted as well as cited. Plagiarism in any form is unacceptable and will result in a zero for this assignment.
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