1. What is the opportunity cost of the war on drugs?
2. Show graphically what the supply and demand of cocaine looks like, and how the curves would shift if legalized. Discuss the importance of the change in equilibrium price and quantity?
3. What non price factors of demand and supply are involved in the shifts you put in your graph?
4. Describe the federal government's role in the war on drugs. What do you think its role should be. Discuss in terms of spending, taxation, and regulation.