Assume that demand for cigarettes is quite inelastic. What does this mean in terms of the demand
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Question:
Assume that demand for cigarettes is quite inelastic. What does this mean in terms of the demand for cigarettes?
If a tax is added to cigarettes how will the quantity demanded change?
If a tax is added to cigarettes, who will bear most of the burden?
The meaning will the extra cost be passed on to the consumer?
Related Book For
Economics
ISBN: 978-0073375694
18th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn
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