The most fundamental principle of economics is the law of demand, which postulates that the higher the cost of a behavior, the less people will do of it, while the lower the cost, the more people will do of it. The law of demand applies to any behavior, and I'm going to apply it to anti-smoking behavior. First, let's get the health issue out of the way because it has no relevancy to the particular principle under examination, which is how people respond to the cost of something.

The co ...

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