Youth Smoking. Use a demand and supply graph of the youth smoking market to show the effects of the tax cut in eastern Canada. Assume that the initial price is $6.00, the initial quantity is 100...

Youth Smoking. Use a demand and supply graph of the youth smoking market to show the effects of the tax cut in eastern Canada. Assume that the initial price is $6.00, the initial quantity is 100 units, and each youth smoker smokes five cigarettes per day. (Related to Application 1 on page 95.)