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Suppose that the government imposes a tax on cigarettes to reduce smoking.
a) Should this tax be imposed on sellers or buyers? Explain using both words and a diagram.
b) Will this tax be more effective or less effective in reducing cigarettes consumption if the demand for cigarettes is relatively inelastic? (Draw two figures, side by side, with the same supply curve and different demand curves.)
c) Who is going to bear greater tax burden, buyers or sellers, if the demand for cigarettes is relatively inelastic? Explain with the help of a figure.
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