User Account

All Pages

Elasticity of demand to dispute this claim

Assignment Help Microeconomics
Reference no: EM13143163

Governments often claim that they impose high taxes on products like cigarettes because smoking is bad for your health. They claim that the high taxes are intended to discourage your consumption. Use your understanding of the elasticity of demand to dispute this claim, assuming that cigarettes have a very inelastic demand. Illustrate with a graph.

Reference no: EM13143163

Questions Cloud

What values will sample means of process fall : Within what values will 95.44 percent of sample means of this process fall, if samples of n = 14 are taken and the process is in control (random)?
Define materials to construct an industrial building : Materials To Construct An Industrial Building, A small building can be constructed of steel or wood framing. A decision is made to use steel for fire resistance.
Calculate the concentration of bicarbonate ion : Calculate the concentration of bicarbonate ion, HCO3 -, in a 0.010 M H2CO3 solution that has the step wise dissociation constants Ka1 = 4.3 × 10-7 and Ka2 = 5.6 × 10-11.
What are the three central elements of chemiosmotic theory : What are the three central elements of chemiosmotic theory for coupling oxidation to phosphorylation in mitochondria?
Elasticity of demand to dispute this claim : Understanding of the elasticity of demand to dispute this claim, assuming that cigarettes have a very inelastic demand. Illustrate with a graph.
What proportion of intragroup transactions eliminated : Where only a proportion of subsidiary's shares are owned by a parent entity, what proportion of the intragroup transactions between the parent entity and the subsidiary will need to be eliminated on consolidation?
Describe the effect of an uncoupling agent : Mitochondria carrying out oxidative phosphorylation consume oxygen. a) What happens to oxygen in mitochondria? b) Describe the effect of an uncoupling agent such as 2,4-dinitrophenol on the rate of oxygen consumption.
What are advantages and disadvantages of functionalism? : what are advantages and disadvantages of functionalism?
In ashford courses : In Ashford courses, there are two different ways to submit assignments for grading. Depending on the system the course utilizes, assignments will either be submitted via the classroom Assignment Basket or Waypoint.

Reviews

Write a Review

Microeconomics Questions & Answers

  Computing increase in sales volume-price elasticty

Angelica pickles manager a Quick copy franchise White Plains, New York. Pickles projects reducing copy 5¢ to 4¢ each, Quick Copy's $600-per-week profit contribution will increase by one-third.

  Find the total revenue for united states

United States winter wheat production rise dramatically in 1999 after a bumper harvest. The supply curve shifted rightward; as a result, the value reduced and quantity demanded increased

  What number of drivers appears to be most efficient

What number of drivers appears to be most efficient in terms of output per driver and what number of drivers appears to minimize the marginal cost of transportation assuming that all drivers are paid the same salary?

  Economy from one long run macroeconomic equilibruium

Using aggregate demand, short run aggregate supply, and long run aggregate supply curves, describe the process through which each government policies will move economy from one long run macroeconomic equilibruium to another.

  Cost function-expected market price

Compute the expected market price. Show calculations please. How many units should you produce to maximize expected profits? What is your expected profit or loss? Again, show work.

  Downward-sloping industry demand curves

When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.

  What is themonthly rate

Suppose that the one-period rate is 4% and that the two-period rate is 6%. What sort of expectation for the one-period rate next period makes this situation an equilibrium?

  Compute preferred stock required rate of return

EMC has preferred stock outstanding which pays a dividend of $5.00 at the end of each year. This stock was issued in perpetuity and has no maturity date.

  Characteristics of monopolistic competition-oligopoly

Describe the major characteristics of monopolistic competition and oligopoly.

  What is the profit-maximizing

What is the profit-maximizing P in the case that Godzilla and Macrosoft merge

  How would the us production possibilities curve be affected

How would the US production possibilities curve be affected in this case: the AIDS epidemic becomes rampant in America claiming millions of lives.

  Merits and demerits of industrial ecosystem

Suppose you're a city planner working on new industrial park and contemplating the use of industrial ecosystem. Describe the major advantages and disadvantages of industrial ecosystem which you would consider in making your decision.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd