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That price cut helped to recapture the market for premium brands and to boost Philip Morriss profits, as more than 80 percent of the companys sales were in premium brands in 1997 (Bulow and Klemperer 1998)

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"People do not come to Richmond, VA for the restaurants," the agency's president Mike Hughes likes to say

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Globally, tobacco causes over 8 million deaths annually and costs $1,436 billion in economic damage