Suppose the price elasticity of demand for cigarettes is -0.8 and that the government can essentially set the price of cigarettes by altering the tax rate. If the government wishes to reduce the quantity of cigarettes demanded by 15 percent, how much must it raise the price of cigarettes? The government, to achieve its goal, must raise the price of cigarettes by nothing percent. (Enter your response rounded to two decimal places.)

Select the correct answer the smith family adopted a child. the adoption procedure took about three months, and the family incurred various expenses. will the smiths receive and financial benefit for the taxable year? a) they will not receive any financial benefit for adopting the child b) their income tax component will decrease c) they will receive childcare grants d) they will receive a tax credit for the cost borne for adopting the child e) they will receive several tax deductions

Which of the following is not a characteristic of a weak economy? a. a low employment rateb. a high inflation ratec. a decreased gdpd. a high unemployment rate

David consumes two things: gasoline (q 1) and bread (q 2). david's utility function is u(q 1, q 2)equals70q 1 superscript 0.5 baseline q 2 superscript 0.5. let the price of gasoline be p 1, the price of bread be p 2, and income be y. derive david's demand curve for gasoline. david's demand for gasoline is q 1equals nothing. (properly format your expression using the tools in the palette. hover over tools to see keyboard shortcuts. e.g., a subscript can be created with the _ character.)