Legal settlement-elasticity of demand for cigarettes

Reference no: EM13280786

Because of legal settlement over state health care claims, in 1999 the u.s. tobacco companies had to raise the average price of a pack of cigarettes from $1.95 to $2.45. the decline in cigarette sales was estimated at 8 percent. what does this imply for the elasticity of demand for cigarettes? explain

Reference no: EM13280786

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Legal settlement-elasticity of demand for cigarettes : Because of legal settlement over state health care claims, in 1999 the u.s. tobacco companies had to raise the average price of a pack of cigarettes from $1.95 to $2.45. the decline in cigarette sales was estimated at 8 percent. what does this imply ..

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