In 2012, the Scottish government introduced a 50 pence minimum price for a unit of alcohol. [One bottle of beer has about 2 units.] Assume that an alcoholic has £60 a week to divide between food and alcohol. How will this policy affect the alcoholic? (Feel free to make up prices.) Optional: how do you think the alcoholic would react?
In 2012, the Scottish government introduced a 50 pence minimum price for a unit of alcohol. [One bottle of beer has about 2 units.] Assume that an alcoholic has £60 a week to divide between food and alcohol. How will this policy affect the alcoholic? (Feel free to make up prices.) Optional: how do you think the alcoholic would react?
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 7PA
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. In 2012, the Scottish government introduced a 50 pence minimum price for a unit of alcohol.
[One bottle of beer has about 2 units.] Assume that an alcoholic has £60 a week to divide
between food and alcohol. How will this policy affect the alcoholic? (Feel free to make up
prices.) Optional: how do you think the alcoholic would react?
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