Do you think taxing junk food would be a good idea

Reference no: EM133596606

Problem: Recently, there have been discussion in the news about taxing junk food or other products ( soft drinks, tabaco, marijuana, for example) in an effort to reduce the incidence of obesity and other health problems in the US, do you think the demand for junk food is elastic or inelastic with respect to price? Based on your knowledge of the price elasticity of demand, do you think the deadweight loss of soda junk food tax would be relatively large or relatively small? Why? Do you think taxing junk food would be a good idea? Based on your analysis, ? what it really help reduce the number of obese people in the United States? Explain.

Reference no: EM133596606

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