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 ONE is enacted.. i.Supply ii.Price iii.Quanity iv.Demand

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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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 ONE is enacted..

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

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