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Studies indicate that the price elasticity of demand for cigarettes is about 0.4 If a pack of cigarettes currently costs 2 and the government wants to reduce smoking by 20 percent by how much should?
To simplify we take the percentage of 20/0.4 therefore the new price it cos 3
A state government wants to increase the taxes on cigarettes to increase tax revenue This tax would only be effective in raising new tax revenues if the price elasticity of demand is?
elastic
In economics what are the types of elasticity?
price elasticity income elasticity cross elasticity promotional elasticity
What are different types of elasticity?
The elasticity of demand refers to how sensitive the demand for a good is to changes in other economic variables. The different types are: price elasticity, income elasticity, cross elasticity and advertisement elasticity.
How does hair elasticity affect the cutting process?
The elasticity in the hair allows wet hair to be stretched up to 50% of its original length, and you must consider this when you are cutting the hair wet, as the dried results could be much shorter than you or your client anticipated.
What items have elasticity?
Gum has elasticity.
Can you mix your allowance of cigarettes and tobacco from Spain?
Yes. Any customs official will simply consider the maximum quantities allowed of both tobacco and cigarettes. In Ireland (correct on September 21st 2011) one adult is allowed to bring in up to 200 packs (4000 cigarettes) or 250 grammes of tobacco. If 100 packs of cigarettes were to be brought in by one adult, the maximum tobacco allowance would then be 125 grammes. Consider each tobacco product as a percentage and stick to 100% or less and there will be no seizing of goods.
What are the 3 types of elasticity?
1)price elasticity of demand 2)income elasticity of demand 3)cross elasticity of demand
Is elasticity in cotton?
No, there is no elasticity in cotton at all
Do cigarettes break a fast?
Yes, smoking cigarettes does not break a fast in the traditional sense of abstaining from food and drink. However, it is important to consider the health implications of smoking during a fast, as it can have negative effects on your overall well-being.
How do you calculate the quantity demanded when the elasticity is given?
To calculate the quantity demanded when the elasticity is given, you can use the formula: Quantity Demanded (Elasticity / (1 Elasticity)) (Price / Price Elasticity). This formula helps determine the change in quantity demanded based on the given elasticity and price.
What do economists call elasticity?
What do economists call elasticity?
