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Lauren1 Lauren1
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Posts: 4120
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9 years ago
According to one study, the price elasticity of demand for cigarettes is 0.25. To decrease the consumption of cigarettes by 8 percent, a tax on cigarettes must raise the price of cigarettes by
A) 32 percent.
B) 25 percent.
C) 2 percent.
D) 3.1 percent.
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MrDerecheMrDereche
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#1
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9 years ago
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Lauren1 Author
wrote...
#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
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