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 77 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
:D TYSM

kjohnson

  • Member
  • Posts: 330
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

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
IQ and Genetics The closer the genetic relationship, the higher the correlation in IQ. Based on: Br IQ and Genetics The closer the genetic relationship, the higher the correlation in IQ. Based on: Br
With their specialized language and activities, surfers are highly recognized as members of a ... With their specialized language and activities, surfers are highly recognized as members of a ...
On average, students in Roman Catholic schools score higher on national tests than students in ... On average, students in Roman Catholic schools score higher on national tests than students in ...
A typical camshaft-driven high-pressure pump used to increase fuel pressure to 2,000 PSI or higher. A typical camshaft-driven high-pressure pump used to increase fuel pressure to 2,000 PSI or higher.
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
Video: Virtual Tour of the Heart

For a complete list of videos, visit our video library