The government in your country is considering three programs that affect the market for cigarettes. Program 1: Media campaign and labeling requirements aimed at making the public aware of the dangers of cigarette smoking. Program 2: A price support program for tobacco farmers. Program 3: A cap on the number of cases of cigarettes sold per quarter at 20,000 cases. I. Determine the impact of an the market for cigarettes if program 1 is implemented by stating what will happen to supply, price, quantity and demanded. ii. Determine the impact of on the market for cigarettes if program 2 is implemented by stating what Will happen to demand,supply, price and quantity. iii. Determine the impact of an the market for cigarettes if program 3 is Implemented by stating what will happen to demand,supply,price and quantity.
The government in your country is considering three programs that affect the market for cigarettes.
Program 1: Media campaign and labeling requirements aimed at making the public aware of the dangers of cigarette smoking.
Program 2: A price support program for tobacco farmers.
Program 3: A cap on the number of cases of cigarettes sold per quarter at 20,000 cases.
I. Determine the impact of an the market for cigarettes if program 1 is implemented by stating what will happen to supply, price, quantity and demanded.
ii. Determine the impact of on the market for cigarettes if program 2 is implemented by stating what Will happen to demand,supply, price and quantity.
iii. Determine the impact of an the market for cigarettes if program 3 is Implemented by stating what will happen to demand,supply,price and quantity.
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