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V. State whether you agree or disagree with the following statements and briefly explain why. Please...

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Economics

V. State whether you agree or disagree with thefollowing statements and briefly explain why. Please draw graphs toexplain your answer, where appropriate.

In some states, the state government owns and operates theliquor stores. The governor of one of these states made thefollowing statement.

\"An increase in the price we charge for liquor would fight thetwin evils of alcoholism and the state budget deficit. Even a smallprice increase would greatly decrease the use of alcohol and wouldincrease the revenue going to the state.\"  

Answer & Explanation Solved by verified expert
3.8 Ratings (665 Votes)
Yes I agree with the statement that when a higher price is charged for alcohol then it can fight the twin evils of alcoholism and the state budget deficit Since the incomes of the people are not changing and if the price of    See Answer
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