I will provide the textbook and chapters. Please read chapters 1,2,3 and 4. Cas

I will provide the textbook and chapters. Please read chapters 1,2,3 and 4.
Cas

I will provide the textbook and chapters. Please read chapters 1,2,3 and 4.
Case Study: Two Ways to Reduce the Quantity of Smoking Demanded
Public service announcements, mandatory health warnings on cigarette packages, and the prohibition of cigarette advertising on television are policies designed to reduce the demand for cigarettes (and shift the demand curve to the left).
What is the impact of raising the price of cigarettes (through tobacco taxes) on the quantity of cigarettes demanded. Does the demand curve shift? An increase in the price of cigarettes can be shown by a movement along the original demand curve?
Studies have shown that a 10% increase in the price of cigarettes causes a 4% reduction in the quantity of cigarettes demanded. For teens, a 10% increase in price leads to a 12% drop in quantity demanded.
Studies have also shown that a decrease in the price of cigarettes is associated with greater use of marijuana. Thus, it appears that tobacco and marijuana are complements.



Assignment Summary:
Refer to Figure 4 in Chapter 4. Analyze the case based on these two graphs and the theory of substitutes and complements.
What is your conclusion? Raising taxes on tobacco has any impact on smoking?
Your illustration of concepts MUST include an explanation why you think they are relevant to the week’s topic using specific information from the articles, videos and other research that you have done.
You are required to post your main post and respond to at least two peers, to make a minimum of three posts totaling at least 500 words. Failure to meet these minimum posting requirements results in point loss.
Include a word count on each post. All of your posts should sum to a minimum of 500 words.
Each post submitted should be between 150 and 250 words. Keep them short, specific, and clear.
Remember to document all use of sources by using citations and references. These should be in APA format.
Please review Plagiarism Powerpoints ( PLAGIARISM.ppt Plagiarism – Alternative Formats ) and be sure to provide references (APA.ppt), including URLs where appropriate, to all works that you cite.

Rubric.
In your response, you must demonstrate your knowledge of chapter 4 of the textbook, especially: 4-2. Demand; 4-2a. The Demand Curve: The Relationship between Price and Quantity Demanded; 4-2b. Market Demand versus Individual Demand; 4-2c. Shifts in the Demand Curve. Copy Figure 4 in Chapter 4 and discuss it.

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