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 68 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?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

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?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

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
Young Circumstellar Disks of Matter Young Circumstellar Disks of Matter
Middle adults help young adults Middle adults help young adults
Young adults who described themselves as “not being religious at all” had greater stress ... Young adults who described themselves as “not being religious at all” had greater stress ...
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
Young children\'s understanding of an actor\'s intentions Young children\'s understanding of an actor\'s intentions
Video: Transmission Across a Synapse

For a complete list of videos, visit our video library