Read “Sex, Booze and Drugs” from The Economics of Public Issues 20th edition by Miller, Benjamin and North. Then answer the essay questions. It’s a writing assignment so writing counts. Your answers should be complete, not just one or two sentences. You may discuss the assignment with other students but you cannot copy your answer from another student or from the internet. (Some students seem unaware that I can search the internet just as well as they can.) The assignment is due 11:55 PM on October 27. In your own words, summarize the most important points of this chapter in a paragraph.
1. What insight does the chapter give that you think most people wouldn’t know?
2. Recreational marijuana is legal in California. Explain, from both the demand and supply side, why an illegal market for marijuana still exists in California.
3. Tobacco and alcohol are considered to be bad for you. Why aren’t they illegal? (Your answer should be written from an economics point of view, the way an economist would look at it.)
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