cheatcodeb
08.10.2019 •
Business
Gary is a heavy smoker who spends $400 per week on cigarettes. the government decides to levy a 20% tax on all cigarettes. this tax will be completely borne by consumers. after the tax is levied, gary's expenditure on cigarettes increases to $432 per week. if each pack of cigarettes sells for $20, calculate gary's price elasticity of demand for cigarettes and the elasticity of demand for addictive goods
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