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Alexus [3.1K]
3 years ago
8

Assume the demand curve for cigarettes is highly inelastic and the supply curve for cigarettes is highly elastic. Since the 1960

s, the attitude of the public toward cigarettes changed significantly. If nothing else changed, would the shift in public preferences have a larger effect on price or on quantity? In the past decade or so, the federal and state governments have imposed significant taxes on the manufacture of cigarettes. In the short run, were the effects of these taxes larger on price or quantity? What have been the effects of public advertising campaigns that discourage people from smoking? Draw 3 separate graphs to illustrate each of your answers.
History
1 answer:
galina1969 [7]3 years ago
7 0

Answer:

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Explanation:

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C. European nations wanted monopoly control of markets and resources

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<u>The other options are not true as the free trade was already a very known concept and the one that is very consistent with the capitalist theory. European nations also had plenty of goods to import from Africa and Asia, starting with materials like ivory and silk, to spices, food, etc. </u>

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