MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 5, Problem 12IP
To determine

Impact of increased tax on cigarettes but not on loose tobacco.

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How is Demand for an individual brand is more elastic than industry aggregate demand.
Is it the short-run or long-run industry supply that is perfectly elastic?
What are the factors that will affect the total revenue?justify your answer
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