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Assume you have been hired by the head of a tobacco industry group to do a cost benefit analysis of whether the tobacco firms should disclose that nicotine is addictive. Assume this is before the federal government required such disclosure on all packages of cigarettes. Explain how you would go about determining what are the potential harms and potential benefits of disclosing this information voluntarily. Is there any information you feel cannot be included in the evaluation? What is it? Why can’t you include it? If you could include it, would it impact your recommendation to the head of the industry group? Analyze the situation from a rights perspective, justice, and virtue theory. How might these considerations affect your recommendation to the head of the industry group?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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