M BCH Managerial Econc x BUSINESS COMMUNIC X ( 11.-Van-Walbeek-C.-H x RI Bank Collusion: We ne X * Course Hero X G evaluate the applicabi x + V X C @ File | C:/Users/hp/Downloads/BCH_Managerial%20Economics.pdf BUSINESS COMMUNICATION 102 3 / 5 100% + British American Tobacco (BAT) having more than 90% of the market share in the early 21st century. "However, after 2010 smaller regional cigarette producers have entered the market, gradually reducing the market share of the multinationals. "The new entrants undercut the multinationals' retail prices and sold a large proportion of their products through informal outlets, such as street vendors and spaza shops." Source: https://www.citizen.co.zaews/3090743/ban-on-cigarette-sales-may-2022/ Questions: 1.1 Using the demand and supply graph given below, explain the impact of the ban in the market for cigarettes. (15) Price P1 Q1 1.2 Explain the importance of price elasticity of demand to pricing managers and highlight the type of price elasticity of demand most relevant to cigarettes. (20) QUESTION TWO [15] Type here to search W ENG 07:58 61 15'C Sunny ^ 9 (() @INTL 2022/06/14