Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Suppose there is a bill to increase tax on cigarettes by $1 per pack coupled with an income tax cut of $500. Suppose a person smokes an average of 500 packs of cigarettes per year--- and would thus face a tax increase of about $500 per year from the cigarette tax at the persons current level of consumption. The income tax measure would increase the persons after tax income by $500. Would the combined measures likely to have any effect on the person’s consumption of cigarettes? Why or why not?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91421821

Have any Question?


Related Questions in Business Economics

A student must answer 6 multiple choice questions for a

A student must answer 6 multiple choice questions for a test, but the student did not study well. There are 6 answers per question, but only one is correct. If the student randomly guesses on each questions, what is the ...

Has globalization increased or decreased social and

Has globalization increased or decreased social and economic disparities around the globe? Can you please provide details.

How can local the local government help prepare employees

How can local the local government help prepare employees for higher level positions in the organization.

Why does a government undertakes expansionary fiscal

Why does a government undertakes expansionary fiscal policy? What are the problems of undertaking expansionary fiscal policy? When is fiscal policy more appropriate than monetary policy?

Ads in the boring business magazine are read by 300 lawyers

Ads in the boring business magazine are read by 300 lawyers and 1000 MBAs. Ads in the consumer publication are read by 250 lawyers and 300 MBAs. If Harry has $3000 to spend on advertising... If the price of ads in the bo ...

Babies weighing less than 55 pounds at birth are considered

Babies weighing less than 5.5 pounds at birth are considered "low-birth-weight babies." In the United States, 7.6% of newborns are low-birth-weight babies. The following information was accumulated from samples of new bi ...

A recent study revealed that 60 of employees use their

A recent study revealed that 60% of employees use their smart phone during work hours for non-work related purposes. Suppose you randomly observe 100 employees and record whether the employee is using their phone for non ...

It was reported that 72 of americans dont exercise at

It was reported that 72 % of Americans don't exercise at least 30 minutes each day. If three people are selected at random, find the probability that all three will say that they don't exercise at least 30 minutes each d ...

Assume that the pizza market consists of two firms conans

Assume that the pizza market consists of two firms, Conan's and Pizza Hut. The price of a Conan pizza is denoted by Pc and the price of a Pizza Hut Pizza is P h.  Both sellers have a marginal cost of $5 for another pizza ...

What are the characteristics of perfect competition and

What are the characteristics of perfect competition, and does is exist in the real world?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As