Question: 30. If the price of each pack of cigarettes is $5.00 and the price elasticity of demand for tobacco is 0.4. Health care policy

30. If the price of each pack of cigarettes is $5.00 and the price elasticity of demand for tobacco is 0.4. Health care policy makers are interested in lowering the amount of tobacco consumption by 30%, how much the new price of each pack of cigarettes must be? Select one: O a. $7.50 O b. $7 Oc $8 O d. $8.75

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