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The prize was claimed by James Bonsack, whose machine could roll 200 cigarettes per minute, dramatically increasing capacity and lowering production costs

Jackson Tarr: Not yet

That doesn't mean we'll give you your money back and wish you luck

For these reasons, the price elasticity of cigarette demand is very low, especially in the short run when smokers find is difficult to "kick the habit." Both the Surgeon General and some economists have reported that a 10-percent increase in the price of cigarettes reduces consumption by only 4 percent in the short run

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