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

Author Question: If the demand for cigarettes is highly inelastic, this indicates that: a. higher cigarette prices ... (Read 27 times)

mmm

  • Hero Member
  • *****
  • Posts: 558
on: Jun 30, 2018
If the demand for cigarettes is highly inelastic, this indicates that:
 a. higher cigarette prices will increase the demand for cigarettes.
  b. the price elasticity coefficient of cigarettes exceeds 1.
  c. the price elasticity coefficient of cigarettes equals 1.
  d. the quantity of cigarettes purchased by consumers is not very responsive to a change in the price of cigarettes.

Question 2

If a demand curve for a good were completely vertical, it would be considered:
 a. perfectly elastic.
  b. perfectly inelastic.
  c. of unitary elasticity.
  d. relatively inelastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Toya9913

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


mmm

  • Member
  • Posts: 558
Reply 2 on: Jun 30, 2018
Wow, this really help

Laurenleakan

  • Member
  • Posts: 309
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

The blue-ringed octopus (Hapalochlaena lunulata) is highly poisonous. The blue-ringed octopus (Hapalochlaena lunulata) is highly poisonous.
Roots of the keystone species hypothesis: does a higher proportion of predators in diverse communiti Roots of the keystone species hypothesis: does a higher proportion of predators in diverse communiti
Osmosis: Water moves from an area of low solute concentration to an area of higher solute ... Osmosis: Water moves from an area of low solute concentration to an area of higher solute ...
Diesel combustion occurs when fuel is injected into the hot, highly compressed air in the cylinder. Diesel combustion occurs when fuel is injected into the hot, highly compressed air in the cylinder.
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
Percentage of higher-income Canadian households Percentage of higher-income Canadian households
Video: Mitosis step-by-step

For a complete list of videos, visit our video library