Will smoker consume the same number of cigarettes

Reference no: EM13222036

Some have agrued that higher cigarette prices do not deter smoking. While there are many arguments both for and against this view, so find the following argument to be the most persuasive of al: "The laws of supply and demand andicate that higher prices are ineffective in reducing smoking. In particular, higher cigarettes prices willn reduce the demand for cigarettes. This reduction in demand will push the equilibrium price back down to its original level. Since the equilbrium price will remain unchanged, smoker will consume the same number of cigarettes. Do you agree or disagree with this view? Why?

Reference no: EM13222036

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