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In a certain country, the demand curve for cigarettes is relatively steep, whereas supply is relatively elastic. Which of the following options will be the
In a certain country, the demand curve for cigarettes is relatively steep, whereas supply is relatively elastic. Which of the following options will be the result of a tax on cigarettes? Consumer surplus will decrease more than producer surplus will decrease. Consumer surplus will increase more than producer surplus will increase. Producer surplus will decrease more than consumer surplus will decrease. Producer surplus will increase more than consumer surplus will increase
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