It has been estimated that the price elasticity for, Ask an Expert

Economics

It has been estimated that the price elasticity for cigarettes is 0.164. Assuming there are currently no taxes on cigarettes, to reduce cigarette purchases 5%, government would need to tax cigarettes enough to:

A) raise the price by 30.5%.

B) raise the price by 0.82%.

C) lower the price by 30.5%.

D) lower the price by 0.82%.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9282443

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