The constant elasticity of demand for cigarettes has been estimated to be 0.5.To reduce smoking by 75%, approximately how much tax needs to be added to a $1 pack?
A)$.38.
B)$.75.
C)$1.50.
D)$2.25.
E)$4.

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The Answer of The constant elasticity of demand for cigarettes has been estimated to be 0.5.To reduce smoking by 75%, approximately how much tax needs to be added to a $1 pack?
A)$.38.
B)$.75.
C)$1.50.
D)$2.25.
E)$4.

The Constant Elasticity of Demand for Cigarettes Has Been Estimated