the Canadian-goverment is trying to decide between three(3) policies that affects the market of cigars. Policy One: a price support program for the Industry tobacco farmers  Policy two: Label requirements and ADs marketing danger awareness warnings to the public. Policy three: a  cap on no. of cases of cigars sold per-quarter at twentyfive thousand (25000)cases Identify the impact on the market of cigars Using the list of options of possible impacts, select what is happening in the following markets if Policy THREE is enacted.. i.Supply ii.Price iii.Quanity iv.Demand

EBK HEALTH ECONOMICS AND POLICY
7th Edition
ISBN:9781337668279
Author:Henderson
Publisher:Henderson
Chapter2: Using Economics To Study Health Issues
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the Canadian-goverment is trying to decide between three(3) policies that affects the market of cigars.

Policy One: a price support program for the Industry tobacco farmers 
Policy two: Label requirements and ADs marketing danger awareness warnings to the public.
Policy three: a  cap on no. of cases of cigars sold per-quarter at twentyfive thousand (25000)cases

Identify the impact on the market of cigars

Using the list of options of possible impacts, select what is happening in the following markets if Policy THREE is enacted..

i.Supply
ii.Price
iii.Quanity
iv.Demand

Price above equilibrium
Increase towards equilibrium
Decrease equilibrium price
Decrease towards equilibrium
Shift outwards / to right
No impact
Quantity below equilibrium
Shift inwards / to left
Change in price uncertain
Quantity above equilibrium
Increase equilibrium quantity
Excess supply
Price below equilibrium
Excess demand
Decrease equilibrium quantity
Increase equilibrium price
Change in quantity uncertain
Transcribed Image Text:Price above equilibrium Increase towards equilibrium Decrease equilibrium price Decrease towards equilibrium Shift outwards / to right No impact Quantity below equilibrium Shift inwards / to left Change in price uncertain Quantity above equilibrium Increase equilibrium quantity Excess supply Price below equilibrium Excess demand Decrease equilibrium quantity Increase equilibrium price Change in quantity uncertain
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