In 1971, the U.S.government banned cigarette advertising on radio and television.After the ban was imposed, an economist would predict that the price of magazine ads would

Question

Quizplus · Accepted Answer

When cigarette advertising was banned on radio and television, the demand for magazine ads to promote cigarettes would increase since it would be the only medium left for tobacco companies to advertise on. Therefore, the increased demand for magazine ads would cause their prices to increase.