Explain the relevance of elasticity of demand to the issue of smoking.

Explain the ethical / moral issues associated with placing a price on life. Is it a necessary evil? Evaluate from an economic perspective.
November 6, 2018
Through the use of basic economic principles, demonstrate the resulting market shifts that would occur and use theory to discuss the potential impact on equity.
November 6, 2018
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Explain the relevance of elasticity of demand to the issue of smoking.

Explain the relevance of elasticity of demand to the issue of smoking.

Question 1 (750 words, 15 marks)

Smoking is good for no-one. Evaluate this statement from an economic perspective. Explain the relevance of elasticity of demand to the issue of smoking. What

government interventions might be effective in reducing smoking behavior? Discuss. (Please see relevant short media article for some inspiration attached)