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Retnec Retnec
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7 years ago
If the price elasticity of demand for cigarettes is 0.5, a tax which increases price by 50 percent will reduce consumption by 25 percent.
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Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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foliogefolioge
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Retnec Author
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#2
7 years ago
You have the correct answer! Smiling Face with Halo
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