Studies indicate that the price elasticity of demand for cigarettes is about 0.4. A government policy aimed at reducing smoking changed the price of a pack of cigarettes from $2 to $6.
According to the midpoint method, the government policy should have reduced smoking by :
(A) 30%.
(B) 40%.
(C) 80%.
(D) 250%.
(E) 5%.
Answers: 3
Business, 22.06.2019 20:00, gudtavosanchez19
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