Problem
The United States Tobacco Settlement between the major tobacco companies and 46 states caused the price of cigarettes to jump 21% (45¢ per pack). Levy and Meara (2006) found only a 2.65% drop in prenatal smoking 15 months later. What is the elasticity of demand for this group? Is their cigarette demand elastic or inelastic?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.