Wednesday, August 29, 2012

Unit 1: Cannabis; a demerit good?

Interesting clip from the BBC based on long term research

http://www.bbc.co.uk/news/health-19394368#

a) Define the term "merit good"
b) To what extent is cannabis a demerit good?
c) Comment on the likely success of government policies to reduce the market failure associated with cannabis consumption

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