User Account

All Pages

Talking about price elasticity of demand

Assignment Help Business Economics
Reference no: EM131439048

Please, read the article Hainer, R. (2010), https://www.cnn.com/2010/HEALTH/04/24/social.smokers/index.html. The tobacco industry is a prime example to consider when talking about price elasticity of demand. While nicotine use can be addictive for many users, it is not addictive for the so-called "social smokers". Answer the following questions....What can we say about the price elasticity of demand for nicotine products (such as cigarettes, pipes, tobacco) in the group of nicotine addicted users, versus the group of "social smokers"? Can we say whose demand is likely to be more elastic?  Explain in detail why?

Provide your response to the discussion question in 600 words or more. Further, comment on the effectiveness of government policy aimed at reducing the negative effects of smoking on health. For example, consider high taxation on producers? - is that effective.  Please make this in clear and detailed English. I need to understand this and be able to apply it in the future so please teach me!!!!!!!  Please give at least 2 references and include the internet web page address so I can read ait and if you quote include this aling with the page and paragraph  so I can follow along

Reference no: EM131439048

Questions Cloud

Expected profit from a new hire : What is the expected profit from a new hire chosen at random from the applicant pool? Limit your analysis assuming one year of employment.
Write down your budget constraint : Assume that your hourly wage is 1. Write down your budget constraint. How many hours of labour would you supply when your hourly wage is 1? You can use any method you want.
Do you feel current legislative actions concerning tobacco : Nicotine, a legal stimulant for those 18 years of age and older, is responsible for more than 400,000 deaths annually. Do you feel current legislative actions concerning tobacco use are sufficient when compared to "illegal" substances, which resul..
Who has been asked to propose intrinsic reward plans : For this assignment, imagine that you are an organizational change consultant who has been asked to propose intrinsic and extrinsic reward plans to an organization.
Talking about price elasticity of demand : While nicotine use can be addictive for many users, it is not addictive for the so-called "social smokers". Answer the following questions....
The effects of cocaine use on society gotten worse or better : Since the 1970s, have the effects of cocaine use on society gotten worse or better? Defend your position with examples.
What are the pundits saying : Who is involved?; What is the issue (include the background, go beyond the one article); When did this first come to public attention (is it getting a lot of attention and by whom - is it just the Globe and Mail, is it on other sources, what are t..
Point forward the benefits : The benefits of a city park project are $10 million and begin seven years from now. From that point forward the benefits go on forever. If the present value of the costs are $100 million , what is the net benefit (+) or cost (-) of this project i..
Describe the phenomenon of therapeutic index : The text (page 106) describes the phenomenon of "therapeutic index." Addiction to barbiturates can be critical in terms of lethality as measured by the therapeutic index. Provide an example, which explains how this phenomenon might lead to an acc..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd