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Secondhand smoke exposure causes disease and premature death in children and adults who do not smoke. According to the Surgeon General, the scientific evidence indicates that there is no risk-free level of exposure to secondhand smoke. Cigarette smoking creates a negative consumption externality which leads to inefficient amount being smoked. Cigarettes are smoked to the point at which the private valued (demand) equals the private cost (supply). However, since the social value of smoking is lower than the private value there is an excess of amount of smoking over the social equilibrium point. This creates a deadweight loss. The social value of smoking is very small if not nil, since the benefits of smoking are outweighed by its costs. The cost of smoking includes the lives lost due to both first and secondhand smoke and the increased Health Care costs due to smoking. The only people who “gain” from it are people who enjoy smoking, but these people also risk there health by......

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Approximate Word Count: 352
Approximate Pages: 2 (250 words per double-spaced page)

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