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For the General Population,a 10 Percent Increase in the Price

Question 148

Multiple Choice

For the general population,a 10 percent increase in the price of cigarettes leads to a


A) 1 percent reduction in the quantity demanded of cigarettes.
B) 4 percent reduction in the quantity demanded of cigarettes.
C) 10 percent reduction in the quantity demanded of cigarettes.
D) 12 percent reduction in the quantity demanded of cigarettes.

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