Consider that the market for cigarettes is in equilibrium. For each of the following events, state...

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Consider that the market for cigarettes is in equilibrium. For each of the following events, state the impact of the event in the market for cigarettes. Treat each numbered question independent of the other events. 1. A cure for lung cancer is found. As a result, one would expect the demand for cigarettes to the supply of cigarettes to the equilibrium price for cigarettes to , and the equilibrium quantity of cigarettes to 2. Wages for tobacco pickers increases substantially. As a result, one would expect the demand for cigarettes to the supply of cigarettes to , the equilibrium price for cigarettes to , and the equilibrium quantity of cigarettes to 3. A fertilizer that increases the yield per acre of tobacco is discovered and more states pass laws restricting smoking in public places. As a result, one would expect the demand for cigarettes to the supply of cigarettes to the equilibrium price for cigarettes to and the equilibrium quantity of cigarettes to Consider that the market for cigarettes is in equilibrium. For each of the following events, state the impact of the event in the market for cigarettes. Treat each numbered question independent of the other events. 1. A cure for lung cancer is found. As a result, one would expect the demand for cigarettes to the supply of cigarettes to the equilibrium price for cigarettes to , and the equilibrium quantity of cigarettes to 2. Wages for tobacco pickers increases substantially. As a result, one would expect the demand for cigarettes to the supply of cigarettes to , the equilibrium price for cigarettes to , and the equilibrium quantity of cigarettes to 3. A fertilizer that increases the yield per acre of tobacco is discovered and more states pass laws restricting smoking in public places. As a result, one would expect the demand for cigarettes to the supply of cigarettes to the equilibrium price for cigarettes to and the equilibrium quantity of cigarettes to