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A government plans to increase tobacco tax by 20% to discourage smoking. Which of the following is likely to render the policy ineffective? Spending on

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A government plans to increase tobacco tax by 20% to discourage smoking. Which of the following is likely to render the policy ineffective? Spending on tobacco takes up a significant proportion of consumers' income. O Tobacco is habit-forming product. O There are many substitutes available. O Tobacco is an inferior good

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