Study: Marijuana Prices Could Drop to $38/Oz With Legalization
The Rand Corporation has released a new report finding legalization of marijuana in California could drop prices as low as $38.00 per ounce.
Researchers associated with the Rand Corp.'s Drug Policy Research Center said Wednesday that not much is certain about the potential impact of Proposition 19 except that the price of California's choicest weed could plunge more than 80%, down from $300 to $450 per ounce to about $38.
"That's a significant drop," said Beau Kilmer, co-director of the center. "We're very clear about the fact that the price will go down."
The implications: [More...]
Such a low price could also affect pot prices across the nation, encourage marijuana tourism in the state, increase the amount of pot shipped out of state, disrupt the smuggling of marijuana from Mexico and stimulate an underground market designed to avoid high taxes that might be imposed.
The report is called Altered States and is available here.
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