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Suppose the two levels of government wish to increase

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Question: The price of a cartoon of cigarettes in Canada is $90 per cartoon (as an aside, there are 200 cigarettes in a cartoon). Per capita consumption is 1630 cigarettes, or 8.15 cartoons. Federal and provincial taxes are currently $50 per carton. Assume Canada's population is 35 million people. (a) Suppose the two levels of government wish to increase the cigarette tax by 20%. If the elasticity of demand is 0.25, what is the additional tax revenue that the two levels of government can expect to collect?

Reference no: EM133599435

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