According to the law of demand, one way to reduce the amount of tobacco consumption is to
A)lower the price of tobacco.
B)raise the price of tobacco.
C)subsidize users of tobacco.
D)subsidize treatments of diseases related to tobacco consumption.
E)make tobacco consumption illegal.

Question

Quizplus · Accepted Answer

According to the law of demand, a higher price of tobacco would decrease the quantity demanded by consumers. Therefore, raising the price of tobacco is likely to reduce the amount of tobacco consumption. This is supported by research that shows that increasing the price of tobacco products through taxes is an effective way to decrease tobacco use.

According to the Law of Demand, One Way to Reduce