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What happens to human behavior when the cost of something falls?
What happens to human behavior when the cost of something falls?
Human behavior becomes more attracted to it.
Give an example of how people react to a decrease in the cost of something.
Give an example of how people react to a decrease in the cost of something.
People shop and buy things that they previously weren't willing to buy.
What happens when the cost of something goes up?
What happens when the cost of something goes up?
People use less of it.
What was the estimated effect of a 10 percent decrease in the street price of cocaine?
What was the estimated effect of a 10 percent decrease in the street price of cocaine?
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What was the estimated effect of a proposed increase in the price of cigarettes?
What was the estimated effect of a proposed increase in the price of cigarettes?
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