The student correctly uses subject-specific terminology relevant to the chosen article and key concept, effectively incorporating terms such as negative externalities, marginal private cost (MPC), marginal social cost (MSC), allocative inefficiency, and price elasticity of demand. This terminology is consistently applied throughout the work, helping to explain the effects of the cigarette tax increase on consumption and welfare loss. Additionally, the student's discussion of the gap between marginal private benefit (MPB) and marginal social benefit (MSB) reflects a solid understanding of market failure concepts and consumer behavior in response to taxation.
