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Please Solve Urgent Question # 2 A rise in the price of cigarettes from $6 to $9 is found to cause demand to contract from

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Please Solve Urgent

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Question # 2 A rise in the price of cigarettes from $6 to $9 is found to cause demand to contract from 200.000 to 140,000 a day in a hypothetical country. a) Draw the demand curve of cigarettes. [11 b) Calculate the price elastlcity of demand of cigarettes in that country. [31 c) Is the demand elastic or inelastic? [1] :1) Explain one reason for the degree of elasticity you have found. I'll e) Would taxing cigarettes be more effective in reducing smoking or raising tax revenue? Explain your Answer. [2]

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