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5 August, 20:29

In a recent article, two economists estimated that the 37.5% increase in price that would result from a 75 cent tax increase on cigarettes would lead to a decrease in smoking among college students of 30%. What can you conclude about the demand for cigarettes among college students?

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  1. 5 August, 20:58
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    It is price inelastic.

    Explanation:

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