This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The price elasticity of demand for cigarettes by adults is -1.3 while for young smokers it is -0.4 . ... (Read 110 times)

skymedlock

  • Hero Member
  • *****
  • Posts: 561
on: Jul 1, 2018
The price elasticity of demand for cigarettes by adults is -1.3 while for young smokers it is -0.4 . A tax on cigarettes would lead to which of the following effects?
 a. a smaller reduction in the quantity of cigarettes demanded by younger smokers than by older smokers
  b. the same reduction in the quantity of cigarettes demanded by both age groups
  c. a larger reduction in the quantity of cigarettes demanded by younger smokers than by older smokers
  d. no impact on the quantity of cigarettes demanded by either group
  e. not enough information to predict the impact

Question 2

Which of the following does not determine a good's price elasticity of demand?
 a. the time interval considered
  b. the number of substitutes there are for the good
  c. expenditures on the good as a percentage of the total consumer budget
  d. the slope of the demand curve
  e. the more of a luxury a particular good is


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

millet

  • Sr. Member
  • ****
  • Posts: 354
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


skymedlock

  • Hero Member
  • *****
  • Posts: 561
Reply #2 on: Jul 1, 2018
Thank you


millet

  • Sr. Member
  • ****
  • Posts: 354
Reply #3 on: Jul 1, 2018
No problemo


« previous next »
 

Did you know?

Only 12 hours after an egg cell is fertilized by a sperm cell, the egg cell starts to divide. As it continues to divide, it moves along the fallopian tube toward the uterus at about 1 inch per day.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Risk-taking behavior by young males. Risk-taking behavior by young males.
The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha
Older adults may need special assistance with medications. Older adults may need special assistance with medications.
A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ... A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ...
Typical Night’s Sleep for a Young Adult Typical Night’s Sleep for a Young Adult
Researchers compared the ability to recognize various kinds of facial expressions across young adult Researchers compared the ability to recognize various kinds of facial expressions across young adult
Video: What are Taste Receptors? How Does it Work? Animation

For a complete list of videos, visit our video library