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Arlecino [84]
3 years ago
6

Suppose the state of Wyoming passes a law that increases the tax on cigarettes. As aresult, smokers who live in Wyoming start pu

rchasing their cigarettes in surrounding states.Which of the following principles does this best illustrate?a. People respond to incentives.b. Rational people think at the margin.c. Trade can make everyone better off.d. Markets are usually a good way to organize economic activity.
Business
1 answer:
fomenos3 years ago
6 0

Answer:

a. People respond to incentives.

Explanation:

Assuming the state of Wyoming passes a law that increases the tax on cigarettes thereby causing smokers who live in Wyoming to start purchasing their cigarettes in surrounding states.

Consequently, an increase in the tax on cigarettes altered the behavior of the smokers in Wyoming, it made them to purchase from neighboring states.

This illustrates or reflect the fact that people respond to incentives.

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<h3>What is stimulus response sales?</h3>

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Therefore, it is true that the stimulus response selling focuses on customers rather than on salespeople unlike need satisfaction selling

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3 years ago
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elena-14-01-66 [18.8K]
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3 years ago
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Monetary policy refers to the measures taken by a country's central bank to control the money supply in order to stabilize the economy.

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6 0
3 years ago
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