An empirical study by Callison and Kaestner (2012) suggests that a 100% cigarette tax would be required

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An empirical study by Callison and Kaestner (2012) suggests that a 100% cigarette tax would be required to decrease adult smoking by as much as 5%. What does this result imply about the shapes of the supply and demand curves (assuming that the cigarette market is competitive)?

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Microeconomics

ISBN: 978-0134519531

8th edition

Authors: Jeffrey M. Perloff

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