Question
Back in the mid-1990s, the government in the UK announced that for every 10 per cent rise in the price of cigarettes, the demand was
Back in the mid-1990s, the government in the UK announced that for every 10 per cent rise in the price of cigarettes, the demand was likely to fall by 6 per cent. If this information was correct, what was the value of the price elasticity of demand for cigarettes at the time?
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Microeconomics
Authors: Dean Karlan, Jonathan Morduch
1st edition
978-0077332587, 007733258X, 978-0077332648, 77332644, 978-1259163531
