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 111 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?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Young or old lady? Young or old lady?
The proportion of obese and extremely obese adults in the United States has increased over the past The proportion of obese and extremely obese adults in the United States has increased over the past
In the past year, about one in five adults in the United States reported symptoms of anxiety ... In the past year, about one in five adults in the United States reported symptoms of anxiety ...
In older adults, higher education is related to higher levels of ego development. In older adults, higher education is related to higher levels of ego development.
Young children\'s understanding of an actor\'s intentions Young children\'s understanding of an actor\'s intentions
Lemon shark giving birth to young that recently hatched in her body. The young were nourished by egg Lemon shark giving birth to young that recently hatched in her body. The young were nourished by egg
Video: Stress and Immune System Animation

For a complete list of videos, visit our video library