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 104 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?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

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

Adults in late middle adulthood frequently look forward to spending more time with their partner Adults in late middle adulthood frequently look forward to spending more time with their partner
Assessing risk for infection in adults Assessing risk for infection in adults
As a young man Tecumseh was a superb hunter and warrior. His younger brother, Tenskwatawa, was awkw As a young man Tecumseh was a superb hunter and warrior. His younger brother, Tenskwatawa, was awkw
Young adulthood brings the greatest number of role transitions and highest levels of demands than ... Young adulthood brings the greatest number of role transitions and highest levels of demands than ...
Young Goose Young Goose
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Effect of blood chemistry - stimuli, hyperventilation response and hypoventilation response

For a complete list of videos, visit our video library