Product Elasticity Product Elasticity price of heroin (similar for cocaine) Cocaine (two estimates) −0.28; −1.0 Beer with respect to price of wine distilled liquor (young drinkers) Product Elasticity in Colorado 0.0 Heroin −0.30 Beer with respect to price of distilled liquor (young drinkers) 0.0 Marijuana, alcohol, cocaine +0.00 −0.38 Pork with respect to price of poultry 0.06 Potatoes 0.15 −0.4 Pork with respect to price of ground beef 0.23 Food** 0.2 Cigarettes (all smokers; two estimates) −0.4; −0.32 Ground beef with respect to price of poultry 0.24 Clothing** * 0.3 Crude oil (U.S.)** Ground beef with 0.35 Beer Alcohol Peaches Marijuana −0.45 Attributed to Libby Rittenberg and Timothy Tregarthen Saylor URL: http://www.saylor.org/books/ −0.00 0.4 Saylor.org 273