oligopoly in the marijuana industry 1
Read the article Oligopoly in the Marijuana Industry
Respond to the following questions:
a) Describe the evolution of the marijuana industry (in Colorado); What are the conditions that now explain an oligopolistic industry structure?
b) What are the “welfare” (as discussed in Mankiw) implications of this industry structure?
c) What are the public policies toward this industry/market? In your opinion, are they appropriate or inappropriate? Are there other policies in relation to oligopolies that should be implemented?