Sunday, December 23, 2012

Minnesota Cigarette Prices


Did the governor of minnesota assume that demand for cigarettes was elastic or inelastic when he made his prop?
did the governor of minnesota assume that demand for cigarettes was elastic or inelastic when he made his proposal?explain your answer.
Best Answer - Chosen by Voters
Inelastic. In 2005 the governor tried to increase revenue by $174 million from his new cigarette tax, but it was a failed proposition. What happened, was that casual smokers smoked less, and other smokers bought their cigs elsewhere (online, etc.) The gov thought this wouldnt happen, that people would not be sensitive to the higher price, and smoke just as much even with the tax. Revenue only increased by $ 4 million.

If he assumed the demand for cigs was elastic, then he would be assuming that people would switch from smoking to something else like chewing tobacco. Instead, the gov only wanted to raise revenue by taxing an addictive habit, therefore he thought cigs were an inelastic good.



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