Why are cigarettes and alcohol the most heavily taxed items, Microeconomics

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Why are cigarettes and alcohol the most heavily taxed items

1. Why are cigarettes and alcohol the most heavily taxed items in the US? Now, if the government increases the price of these items by 10%, how does this affect the stores that sell them?

2. What happens if you are willing to pay $80 to go to a concert, but the ticket prices are only $50. How does this affect the producer and consumer surplus in markets?

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Microeconomics: Why are cigarettes and alcohol the most heavily taxed items

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Microeconomics: Why are cigarettes and alcohol the most heavily taxed items

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