On January 2, 1971, all cigarette advertising was banned on U.S.television and radio stations.Assuming that advertising is a prisoner's dilemma, and that if one company advertises, its competitors will also choose to spend money to advertise, did this ban likely increase or decrease the profits of cigarette companies in 1971? Briefly explain.

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The Answer of On January 2, 1971, all cigarette advertising was banned on U.S.television and radio stations.Assuming that advertising is a prisoner's dilemma, and that if one company advertises, its competitors will also choose to spend money to advertise, did this ban likely increase or decrease the profits of cigarette companies in 1971? Briefly explain.

On January 2, 1971, All Cigarette Advertising Was Banned on U.S.television