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Marijuana

Today marijuana is of the most common used drugs around. Much debate has been given to whether the substance should be legalized or not. Legalizing marijuana would benefit the country as a whole. Millions of tax dollars go into the drug war each year. Law enforcement officers risk their lives everyday in order to apprehend the countries’ many marijuana dealers. Marijuana is a perfect example of market failure where lack of information has caused many false pretenses to be place on the substance. A government-regulated marijuana that would be produced in a market of pure competition would cut government spending and actually bring revenue in from taxes and other fees.

If a firm in a competitive market structure produced marijuana, allocative, technical, and distributive efficiency would ensue. Being that the firm knows the demand for marijuana, they would produce at a rate that is what the consumer wants. Due to marijuana’s similarity to cigarettes, technical efficiency would be insured because large corporations such as Philip Morris would have to change very little of their production process to distribute marijuana joints all over America along with their other brands of cigarettes. B

Some topics in this essay:
Philip Morris, Legalization Marijuana, AmSouth Amphitheatre, competitive market, market structure, legalizing marijuana, allocative efficient, legalizing marijuana benefit, competitive market structure, market failure, quantity result, marijuana allocative, predatory pricing, allocative efficiency, allow firms,