What can we say about the price elasticity of demand for nicotine products? Economics homework help


***** Read Carefully and answer in full with a graduate level response!!!!!! ***** Original Work Pls with plagiarism report attached!!!Hainer, R. (2010). Social smokers aren’t hooked on nicotine, just smoking. Cable News Network. Retrieved
from Weather, Entertainment & Video News. Retrieved November 13,
2012, from ttp://www.cnn.com/2010/HEALTH/04/24/social.smokers/index.html Please, read the article Hainer, R. (2010), provided in the required
readings section for this week. The tobacco industry is a prime example
to consider when talking about price elasticity of demand. While
nicotine use can be addictive for many users, it is not addictive for
the so-called “social smokers”.

What can we say about the price elasticity of demand for nicotine
products (such as cigarettes, pipes, tobacco) in the group of nicotine
addicted users, versus the group of “social smokers”? Can we say whose
demand is likely to be more elastic? Why?
Provide your response to the discussion question in 300 words or more.
Further, comment on the effectiveness of government policy aimed at
reducing the negative effects of smoking on health. For example,
consider high taxation on producers? – is that effective?

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