17) Teenagers have a higher price elasticity of demand for cigarettes than do adults. Suppose the price clasticity of teenager's demand for cigarettes is 0.8, the price elasticity of adult's demand for ciga- rettes is 0.8. If the government imposes a tax on cigarettes that raises the price by 10 percent, by how much will it reduce teenage smoking? A) By 5 percent B) By 10 percent C) By 15 percent D) By 20 percent

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