Social Studies, 31.07.2019 01:30 angelcamacho0219
Recall the application "smoking, drinking, and elasticity." if the number of highway deaths among young people is roughly proportional to their beer consumption and young peoples' elasticity of demand for beer is 1.5, then to decrease highway deaths of young people by 15 percent, taxes would need to be increased enough to increase the price of beer by:
(a) 10%
(b) 15%
(c) 20%
(d) 25%
Answers: 1
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