Question
Most statistical estimates of the elasticity of demand for cigarettes for teenagers range from -0.7 to -1.4. Consider the different factors that affect the price
Most statistical estimates of the elasticity of demand for cigarettes for teenagers range from -0.7 to -1.4. Consider the different factors that affect the price elasticity of demand. Name two factors that you think makes teenage demand for cigarettes more elastic than demand by adults.
Briefly explain your answer in one or two sentences.
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Macroeconomics Principles and Applications
Authors: Robert E. Hall, Marc Lieberman
6th edition
1111822352, 1111822354, 9781133708742 , 978-1111822354
