The demand for cigarettes has seen some decrease ever since vaping was introduced as a less harmful alternative to smoking cigarettes. Select the item from the list provided to make the following statements true. ✓ The main factor detailed in the scenario causing the decrease in demand for cigarettes is a/an 1. upward movement along the demand curve 2. change in price of a complement good Suppose the Australian government taxes the production of 3. increase in population cigarettes which led to an increase in prices of cigarettes and a decrease in quantity demanded for cigarettes in the market. Graphically this can be depicted as a/an of cigarettes. 4. downward movement along the demand curve 5. change in income of consumer 6. change in price of a substitute ✓ Now assume that prices of e-cigarettes (vape) decreased, 7. and cigarette smokers switched to the cheaper e-cigarettes. 8. This can best be explained by a change in expectation of future price decrease in population 9. change in consumer taste (preference) 10.rightward shift of the supply curve 11, change in input costs 12. upward movement along the supply curve

The demand for cigarettes has seen some decrease ever since vaping was introduced as a less harmful alternative to smoking cigarettes. Select the item from the list provided to make the following statements true. ✓ The main factor detailed in the scenario causing the decrease in demand for cigarettes is a/an 1. upward movement along the demand curve 2. change in price of a complement good Suppose the Australian government taxes the production of 3. increase in population cigarettes which led to an increase in prices of cigarettes and a decrease in quantity demanded for cigarettes in the market. Graphically this can be depicted as a/an of cigarettes. 4. downward movement along the demand curve 5. change in income of consumer 6. change in price of a substitute ✓ Now assume that prices of e-cigarettes (vape) decreased, 7. and cigarette smokers switched to the cheaper e-cigarettes. 8. This can best be explained by a change in expectation of future price decrease in population 9. change in consumer taste (preference) 10.rightward shift of the supply curve 11, change in input costs 12. upward movement along the supply curve

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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