A sales tax on cigarettes would likely decrease the quantity demanded by a smaller amount
A) for smokers who view cigarettes as a necessity.
B) for smokers who are not addicted.
C) for smokers with smaller incomes.
D) the longer the time elapsed.
E) for smokers who view cigarettes as a luxury.
Answer: A) for smokers who view cigarettes as a necessity.
You might also like to view...
Direct costing conforms with generally accepted accounting principles
Indicate whether the statement is true or false
________ refers to how consumers perceive a retailer.
A. Brand recognition B. Consumer confidence C. Store image D. Operational efficiency E. Atmospherics
Statutes of repose places outer times limit on product liability actions
Indicate whether the statement is true or false
A cash equivalent must be readily convertible to a known amount of cash, and must be sufficiently close to its maturity so its market value is unaffected by interest rate changes.
Answer the following statement true (T) or false (F)