Recall the Application. The change in demand for cigarettes resulting from the d
ID: 1258036 • Letter: R
Question
Recall the Application. The change in demand for cigarettes resulting from the decrease in taxes would normally create, ceteris paribus, According to this Application, after the government deceased cigarette taxes in several Canadian provinces in 1994, the price of cigarettes in these provinces decreased by roughly ________ percent. According to this Application, after the government deceased cigarette taxes in several Canadian provinces in 1994, the decrease in the price of cigarettes in these provinces As the price of a product falls, the demand for the product increases, ceteris paribus.
Explanation / Answer
According to this Application, after the government deceased cigarette taxes in several Canadian provinces in 1994, the price of cigarettes in these provinces decreased by roughly 78% percent. According to this Application, after the government deceased cigarette taxes in several Canadian provinces in 1994, the decrease in the price of cigarettes in these provinces As the price of a product falls, the demand for the product increases, ceteris paribus.
(Reference: http://tobaccoecon.org/wp-content/uploads/2014/09/van-walbeekcp-the-economics-of-tobacco-control-in-south-africa1.pdf)
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