« previous next »

Author Question: Suppose the price elasticity of teenagers' demand for cigarettes is 2.0. If the government imposes a ... (Read 99 times)

Ebrown

  • Hero Member
  • *****
  • Posts: 567
on: Jun 29, 2018
Suppose the price elasticity of teenagers' demand for cigarettes is 2.0. If the government imposes a tax on cigarettes that raises the price by 10 percent, by how much will it reduce teenaged smoking?
 
  A) by 5 percent
  B) by 10 percent
  C) by 15 percent
  D) by 20 percent

Question 2

The law of demand states that the quantity of a good demanded varies
 
  A) inversely with its price.
  B) inversely with the price of substitute goods.
  C) directly with income.
  D) directly with population.


quynhmickitran

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Growth of Government Spending, 1870–2009 Growth of Government Spending, 1870–2009
Teenagers drinking Teenagers drinking
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ... Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...
A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ... A highway curve of radius 80 m is banked at 45°. Suppose that an ice storm hits, and the ...
Video: Nucleic acid digestion -small intestine

For a complete list of videos, visit our video library