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natita [175]
4 years ago
14

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
Business
1 answer:
Vesnalui [34]4 years ago
6 0

Answer: more than half.

Explanation:elasticity of demand is a degree of change in demand with respect to price. According to midpoint method this is used to show percentage change in quantity demanded, divided by the percentage change in price. With an increase in price from $2 to $6 the demand for cigarette is expected to drop by more than half.

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Free_Kalibri [48]

the answer i got was 960000

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5 0
4 years ago
Albert jones went to his local department store to purchase a pair of levi's. he thought that the style of levi that he wanted w
geniusboy [140]

The behavior of Albert is consistent with the law of demand.

The basic law of demand says that the higher the price of a commodity, the lower the quantity demanded; and the lower the price of a commodity, the higher the quantity demanded.

Albert went to his local store, hoping to buy a pair of Levi's for $30, however, when he got there, the price was lower at $18, he then decided to buy more than one because the price was lower. This is the law of demand taking place.

6 0
3 years ago
The government has granted a patent to a pharmaceutical company for an experimental AIDS drug. That company is the only firm per
morpeh [17]
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4 0
4 years ago
Read 2 more answers
To raise $5 million, southeastern corporation decides to issue bonds. if southeastern does not register the bonds with the sec a
Masja [62]

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3 0
3 years ago
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ExtremeBDS [4]

Answer:

$450

Explanation:

Calculation for the total interest due on the maturity date

Using this formula

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Total interest =$10,000 x 0.09x 1/2

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Therefore the total interest due on the maturity date will be $450

6 0
4 years ago
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