Question

(a) assume that a pcorian smoker named jay states that he is willing to buy a pack of cigarettes for $8, but not a penny more. In this market, where the price is $6 per pack, what are the private benefits and private costs incurred whenever he buys a pack of cigarettes? is it privately efficient for him to buy a pack of cigarettes at this price?

Answer 1

private benefit 2$ saved per pack as opposed to what he would pay

Step-by-step explanation:

private cost is travel and health concerns ? it is efficient for him to buy these cheaper than a 8$ pack