By 2012, there were approximately 20 big producers of cigarettes and a few other small companies in South Africa; and tobacco companies are reportedly paying large amounts of taxes to governments around the world. Imagine that you a senior executive of a company that produces and sale cigarettes. You have been requested to brief the company’s new board of directors the details of the tobacco business and industry. 2a. In your report discuss at a theoretical level the tobacco market structure in South Africa and the attributes of such a market. Give details of each attribute! [20 Marks] 2b. The government introduced a new sin tax on cigarettes, as a senior manager, use relevant diagrams to explain to the new board of directors, the possible burden on consumers and producers that might arise as a result of a new sin tax. Advise the board how the company can maximize profits under the new tax regulation.