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Suppose the U.S. Government banned the sale and production of cigarettes. What are likely effects of this action on the market for cigarettes?
On May 16, 2024
Several changes are likely to happen in the cigarette market. First, the quality of cigarettes sold will decline. Second, the price of cigarettes will rise. Third, the profits of persons selling cigarettes (assuming they are not caught) will rise. Fourth, the rate of violence will increase.