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Figure 6-4 -If the Elasticity of Demand for Cigarettes Is 0.4, Then

Question 91

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Figure 6-4 Figure 6-4 -If the elasticity of demand for cigarettes is 0.4, then an increase in the price of a pack of cigarettes from $5.00 to $6.00 would reduce quantities demanded by about A) 7 percent. B) 40 percent. C) 42 percent. D) 220 percent.
-If the elasticity of demand for cigarettes is 0.4, then an increase in the price of a pack of cigarettes from $5.00 to $6.00 would reduce quantities demanded by about


A) 7 percent.
B) 40 percent.
C) 42 percent.
D) 220 percent.

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