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Author Question: What does the following statement imply about price elasticity of demand? "Government tries to ... (Read 125 times)

kmcolvin

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on: Oct 12, 2022
What does the following statement imply about price elasticity of demand? "Government tries to reduce cigarette consumption with an extra 50 cent tax per pack. Policy raises government revenue but fails to curb smoking."
◦ Demand for cigarettes is elastic.
◦ Elasticity of demand for cigarettes is equal to one.
◦ Elasticity of demand for cigarettes is close to infinity.
◦ Elasticity of demand for cigarettes equals 0.5.
◦ Demand for cigarettes is inelastic.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by kmcolvin on Oct 12, 2022

tharris7314

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kmcolvin

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

kthug

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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