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The price elasticity of demand for adults for cigarettes is 0.4. If government wants to reduce ...

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The price elasticity of demand for adults for cigarettes is 0.4. If government wants to reduce ...

The price elasticity of demand for adults for cigarettes is 0.4. If government wants to reduce smoking among adults by 15 percent, by what percentage should it raise the price of cigarettes?
Teenagers have a higher price elasticity of demand for cigarettes than do adults. Suppose the price elasticity of teenagers' demand for cigarettes is 0.8. If the government imposes a tax on cigarettes that raises the price to reduce overall smoking by 15 percent, by what percentage will the government reduce teenage smoking?

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Foundations of Finance

Edition: 9^th

Authors: Keown, Petty, Martin

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borteleto Author

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6 years ago

Genius!!!!!!

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