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Increasing Marginal Revenue and Demand Elasticity

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  • Robert E. Marks

    () (School of Economics, Australian School of Business, the University of New South Wales)

Abstract

If social “harm” is an inverse-U function against the degree of control of illicit drug markets, and if revenue can proxy “harm,” what demand functions result in increasing marginal revenue?

Suggested Citation

  • Robert E. Marks, 2013. "Increasing Marginal Revenue and Demand Elasticity," Discussion Papers 2013-27, School of Economics, The University of New South Wales.
  • Handle: RePEc:swe:wpaper:2013-27
    as

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    File URL: http://research.economics.unsw.edu.au/RePEc/papers/2013-27.pdf
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    References listed on IDEAS

    as
    1. Liu, Jin-Long & Liu, Jin-Tan & Hammitt, James K. & Chou, Shin-Yi, 1999. "The price elasticity of opium in Taiwan, 1914-1942," Journal of Health Economics, Elsevier, vol. 18(6), pages 795-810, December.
    2. Anne Line Bretteville-Jensen & Erik Bi¯rn, 2003. "Heroin Consumption, Prices and Addiction: Evidence from Self-reported Panel Data," Scandinavian Journal of Economics, Wiley Blackwell, vol. 105(4), pages 661-679, December.
    3. Silverman, Lester P. & Spruill, Nancy L., 1977. "Urban crime and the price of heroin," Journal of Urban Economics, Elsevier, vol. 4(1), pages 80-103, January.
    4. van Ours, Jan C, 1995. "The Price Elasticity of Hard Drugs: The Case of Opium in the Dutch East Indies, 1923-1938," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 261-279, April.
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    More about this item

    Keywords

    illicit drug markets; increasing marginal revenue; demand functions;

    JEL classification:

    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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