A few questions about tobacco taxation

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Reference no: EM1335656

I have a few questions about tobacco taxation:

Is the tax levied on producers or consumers?

How does the tax affect supply and demand?

How does the tax affect the equilibrium price and quantity?

In this market, describe a hypothetical situation where a price ceiling or floor could be imposed. What implications would this have for the market?

Reference no: EM1335656

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