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Price Point Impact. Even with a linear demand curve, price elasticity for any product. (including tobacco) varies as the price for that product varies. De-. mand tends to be relatively inelastic at lower price levels (due to. smaller income effects), but grows more elastic as price increases.
According to the quantity theory of money,what is the effect of an increase in the quantity of money? According to the quantity theory of money, an increase in the quantity of money causes a proportional increase in the price level.