Problem
Some policy makers have claimed that the U.S. government should purchase illegal drugs, such as cocaine, to increase the price that drug users will face. Does this idea have any merit? Illustrate this logic in a simple supply and demand framework. How does the elasticity of demand for illegal drugs relate to the efficacy of this policy? Are you more or less willing to favor this policy if you are told demand is inelastic?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.