1. Please explain what would happen to the market-clearing prices and quantities of e-cigarettes in the U.S. under the following hypothetical scenarios.
   1. Widespread reporting of e-cigarette or vaping use-associated lung injury (EVALI) increased the health risk concerns about vaping among existing e-cigarette users. (5 points)
   2. The federal government imposed a $1 per pack excise tax on cigarettes. (5 points)
   3. FDA denied 200 e-cigarette companies' Premarket Tobacco Product Applications, which would have allowed these companies to continually legally sell/market their products in the U.S. if approved. (5 points)
   4. Scientific evidence emerged that e-cigarettes are able to help smokers quit smoking successfully and this information has been accurately communicated to the public. (5 points)
   5. The covid-19 pandemic disrupted the supply chain of e-cigarettes, which increased per unit transportation cost of e-cigarettes. (5 points)
   6. The federal government took cannabis off the Schedule 1 list, and subsequently, many states that previously did not allow cannabis recreational use among their adult residents started to allow it. (10 points)