The constant price elasticity of demand for cigarettes has been estimated to be -0.5.To reduce smoking by 50%,approximately how much tax needs to be added to a $1 pack?
A) $1.00
B) $2.00
C) $3.00
D) $0.50
E) $4.00

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The Answer of The constant price elasticity of demand for cigarettes has been estimated to be -0.5.To reduce smoking by 50%,approximately how much tax needs to be added to a $1 pack?
A) $1.00
B) $2.00
C) $3.00
D) $0.50
E) $4.00

The Constant Price Elasticity of Demand for Cigarettes Has Been