Suppose that legalizing the use of marijuana would decrease its price by 78 percent If the price elasticity of demand for marijuana is 2 50, what would be the percentage increase in the quantity of marijuana demanded from legalizing marijuana Suppose instead that the price elasticity of demand for marijuana is 0 16 What would be the percentage increase in the quantity of marijuana demanded from legalizing marijuana The higher the absolute value of the price elasticity of demand for marijuana, the the increase in marijuana use that would result from legalization

Question: Suppose that legalizing the use of marijuana would decrease its price by 78 percent. If the price elasticity of demand for marijuana is -2.50, what

Suppose that legalizing the use of marijuana would decrease its price by 78 percent. If the price elasticity of demand for marijuana is -2.50, what would be the percentage increase in the quantity of marijuana demanded from legalizing marijuana?
Suppose instead that the price elasticity of demand for marijuana is -0.16. What would be the percentage increase in the quantity of marijuana demanded from legalizing marijuana?
The higher the absolute value of the price elasticity of demand for marijuana, the the increase in marijuana use that would result from legalization.

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