What should be the new price which can achieve the goal

Reference no: EM13245177

The federal government estimated that the elasticity of demand for cigarettes among teenagers is equal to 2. If they want to reduce smoking by 50% among this group and the price of cigarettes is $6.00 per pack, what should be the new price which can achieve this goal of 50% reduction in smoking?

Reference no: EM13245177

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