Consider the demand for gasoline and market for cigarettes

Reference no: EM13144480

Discuss the relevant elasticity for two of the following scenarios in separate posts. In your answer, comment on what determines that elasticity classification.

Consider the demand for gasoline. When the price of gasoline increases by a relatively large amount, the quantity of gasoline purchased falls by a relatively small amount.

Consider the market for cigarettes. When a 200% tax is imposed on the consumers of cigarettes, quantity demanded falls by 60%.

Consider the demand for children. People who have higher incomes have fewer children on average. People with lower incomes have more children on average.

Consider the market for soap. How would you determine if soap and shampoo are competitors?

Reference no: EM13144480

Questions Cloud

Firefighter mentally and physically demanding : The profession of being a firefighter is mentally and physically demanding. Discuss how a health and wellness program would benefit firefighters and help them meet the demands of their profession.

Engineering intern at caddell construction : I am an engineering intern at caddell construction, working in a US embassy project in Dominican Rep. I told my boss at the beginning that I was going to be working till August 25th.

Best meal you ever had or the worst meal you ever had : When you are thinking about your paragraph, think about description and the five senses and specific examples. You might like to focus solely on the food, or you might like to also include details about the place where you had the meal, people who we..

How did the writer achieve this cause-effect relationship : In the first paragraph, discuss the cause-effect development of D'Amboise's "Showing What Is Possible." How did the writer achieve this cause-effect relationship?

Consider the demand for gasoline and market for cigarettes : Discuss the relevant elasticity for two of the following scenarios in separate posts. In your answer, comment on what determines that elasticity classification.

Process-oriented approach in writing : What does it mean to use a "process-oriented approach" in writing? Why is this approach advantageous?

What is meant by the word civilization : What is meant by the word civilization? how do we characterize civilization, and in your opinion, what role do humanities play in this defination.

Determinants of demand and supply : Determine whether demand or supply changes or if the event instead causes a change in quantity demanded or quantity supplied.

Increase outreach to parents-incorporate hygiene education : According to Buien de Mujer, parents are responsible for ensuring that their children attend school regularly. However, taking into consideration the facts that most parent work extensive hours and take care of a large family, they are not able to su..

User Account

All Pages