5.1 The U.S. Tobacco Settlement Agreement between the major tobacco companies and 46 states caused the price
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5.1 The U.S. Tobacco Settlement Agreement between the major tobacco companies and 46 states caused the price of cigarettes to jump 45ยข (21%) in November 1998. Levy and Meara (2006) find only a 2.65%
drop in prenatal smoking 15 months later. What is the elasticity of demand for prenatal smokers? M
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