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Suppose the demand curve for committing robbery can be represented by a downward sloping demand curv

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Suppose the demand curve for committing robbery can be represented by a downward sloping demand curv

Suppose the demand curve for committing robbery can be represented by a downward sloping demand curve. In other words, as the price of committing a robbery falls, more robberies will be committed. Now, suppose laws are passed allowing people to carry guns unconcealed in public. Which of the following best explains the likely outcome?
A) Demand for robberies will fall.
B) Supply of robberies will increase.
C) The elasticity of robberies will be perfectly inelastic.
D) The quantity demanded of robberies will decrease because the price of robberies has risen.

Textbook

The Economic Way of Thinking

Edition: 13^th

Authors: Heyne, Boettke, Prychitko

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Sublight2097 Author

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8 years ago

Seriously, you've been tremendously helpful! Thank you.

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Chimelo46

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8 years ago

The textbook reference in your signature really helped me narrow it down.

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