Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Macroeconomics Expert

Some have argued that higher cigarette prices do not deter smoking. While there are many arguments both for and against this view, some find the following argument to be most persuasive of all: "The laws of supply and demand indicate that higher cigarette prices are ineffective in reducing smoking. In particular, higher cigarette prices will reduce demand for cigarettes. This reduction in demand will push the equilibrium price and quantity back to its original level. Since the equilibrium price remains unchanged, smokers will consume the same number of cigarettes" Do you agree or disagree with this view?

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M9497397

Have any Question?


Related Questions in Macroeconomics

Question a monopolist faces the following informationthe

Question: A monopolist faces the following information: The market demand: Q=300-2P The cost Structure: TC=100+50Q a) what is the profit-maximizing price-output combination and what are the levels of profits and consumer ...

Question you do not need to have seen the movie the

Question: You do not need to have seen the movie, the question is based on Carl Menger's Theory of the Good. In the movie, "Cast Away," Tom Hanks played the character Chuck Noland, who was stranded on a deserted island f ...

Question - suppose that a consumer can earn a higher wage

Question - Suppose that a consumer can earn a higher wage rate for working overtime. That is, for the first q hours the consumer works, he or she receives a real wage rate of w1, and for hours worked more than q he or sh ...

Question explain why the market fails to provide optimal

Question: Explain why the market fails to provide optimal quantities of: i) Positive & negative externalities ii) Public Goods iii) Common Property Resources The response must be typed, single spaced, must be in times ne ...

Question - consumer choice problems duality ii individuals

Question - Consumer choice problems (duality) II Individuals consume three breakfast goods - cereal q1, bacon q2 and eggs q3. Preferences are modelled by an indirect utility function v(p1, p2, p3, y) = y/ Root(p1(p2+p3)) ...

Economics assignment -topic evaluation of macroeconomic

Economics Assignment - Topic: Evaluation of Macroeconomic performance of Australia and New Zealand. Task Details: Complete a research-based analysis and evaluation of the relative macroeconomic performance of Australia a ...

Question 1 otrue or xfalse1 a trade-off is a principle for

Question: 1. O(True) or X(False) 1. A trade-off is a principle for market activities. 2. A manager's salary is the opportunity cost. 3. A trade provides a division of labor. 4. The market failure always results in the ne ...

Question scenario imagine you are a business consultant to

Question: Scenario: Imagine you are a business consultant to a Business. You have been asked to analyze, advise, and create recommendations on how the firm can ensure its future success in its current market. Prepare a m ...

Question in an effort to move the economy out of a

Question: In an effort to move the economy out of a recession, the federal government would engage in expansionary economic policies. Respond to the following points in your paper on the actions the government would take ...

Question describe both law of demand amp law of supply

Question: Describe both "Law of Demand" & "Law of Supply" regarding price changes relative to the substitution and income effect? In your response, describe how a simultaneous increase in the gasoline tax and a decrease ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As