How are they different from understanding of economic roles

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Problem: The Price Elasticity of Demand for Cigarettes

Prompt I: Read "YOU'RE THE ECONOMIST: Cigarette Smoking Price Elasticity of Demand" in Chapter 5. According to the previous discussion, what factors influence the price elasticity of demand for cigarettes? What other factors not mentioned in the article might also influence the price elasticity of demand for cigarettes?

Prompt II: Read the assigned Scriptures and use them, or other relevant Scriptures, to discuss what the Bible says about private ownership and trade. How are they different from the understanding of their economic roles? What are the differences between the roles of government in the Bible and the market economy?

Reference no: EM133481744

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