Please read the caseTwo Ways to Reduce the Quantity of Smoking Demanded P The case study presented
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Question:
Please read the case"Two Ways to Reduce the Quantity of Smoking Demanded" "P The case study presented in the chapter discussed cigarette taxes as a way to reduce smoking. Now think about the markets for other tobacco product such as cigars and chewing tobacco. and Answer the following Questions:
Questions:
- Are these goods substitutes or compliments for cigarettes? (100 - 150 words - 1.25 point)
- Using a supply and demand diagram, show what happens in the markets for cigars and chewing tobacco if the tax on cigarettes is increased. (100 - 150 words - 1.25 point)
- If policy makers wanted to reduce total tobacco consumption, what policies could they combine with the cigarette tax? (100 - 150 words - 1.25 point)
- How can we reduce the consumption of cigarettes in economics? (100 - 150 words -1.25 point)
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