Internal Code : MAS4699
Economics Assignment
Question :
“Excessive drinking leads to about 88,000 deaths each year in the United States. Cigarette smoking adds another 440,000 deaths to the tally, most due to long-term health problems like cancer. A new study from the Washington University School of Medicine suggests you could take a bite out of both figures with one simple policy change.” Want people to drink less? Make their cigarettes more expensive.
Show on supply and demand diagrams:
(i) The impact of health warnings on cigarette packaging on beer consumption.
(ii) The impact of yeast shortage on cigarette purchases.
Explain your diagrams.
Discuss using a microeconomics perspective: When prisons on the Isle of Man banned cigarettes,
the crime rate (related to burglaries, stealing cars and assaults in particular) in the Isle of Man decreased by 14%
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