Graphing Washington's Legal Marijuana Market

All credit for this idea goes to Ed Dolan who posted his explanation of Washington State's Marijuana policy. This is an idea that I would like to use in class when we are going over taxes in our Consumer Choice Theory unit and we discuss taxation.

Ed breaks down the issue of what will happen in the ideal scenario and then what happens if the taxes are too high and the regulations are too onerous.

I will definitely use this in class to engage my students and so they can see some real world examples of the effect of taxes. Thanks Ed!