Lee et al. (2010) estimated that a 2009 tax of 10 New Taiwan Dollars ($0.30) per pack
Question:
Lee et al. (2010) estimated that a 2009 tax of 10 New Taiwan Dollars ($0.30) per pack of cigarettes reduced Taiwanese cigarette consumption by 13.19%. Assuming that the market consists of two cigarette firms, show how this specific tax affects the Nash-Cournot equilibrium.
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Assume in the figure the market is initially at a NashCournot equilibrium at point e 1 before the ...View the full answer
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