In the 2021 report, the Malaysian economists estimated that the 40% increase in the price of cigarettes (because of higher tax imposed by the government) would result in a decrease in smoking habits among teenagers by 30%. What can you conclude about the demand elasticity for cigarettes teenagers in this country? a. It is price inelastic. O b. It is unit elastic. O c. It is price elastic. O d. It is perfectly inelastic.

In the 2021 report, the Malaysian economists estimated that the 40% increase in the price of cigarettes (because of higher tax imposed by the government) would result in a decrease in smoking habits among teenagers by 30%. What can you conclude about the demand elasticity for cigarettes teenagers in this country? a. It is price inelastic. O b. It is unit elastic. O c. It is price elastic. O d. It is perfectly inelastic.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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