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

question 80

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.