If the elasticity of demand for cigarettes is 075 and the


If the elasticity of demand for cigarettes is 0.75 and the elasticity of supply for cigarettes is 1.25, then a 5% decrease in the demand for cigarettes would cause the price of cigarettes to: decrease by 2.5%.increase by 2.5%.decrease by 5%.increase by 5%.

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Microeconomics: If the elasticity of demand for cigarettes is 075 and the
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