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Business, 19.10.2019 05:20 gstevens

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%.

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