After reading the required reading for week one, what do you believe is the relationship, if any, between “fair” and “law”? Does one influence the other? Does public opinion play a role in how the courts (especially the U.S. Supreme Court) interpret the law?
January 19, 2018
Jeff Bezos, founder and CEO of Amazon.com, has said that one of the key elements of being a good business leader is the capacity to tell the hard truths. “Leaders struggle with this problem all the time,” says Dr. David Thomas of the Harvard Business School.
January 19, 2018

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”.

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?

Guided Response: 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? Respond substantively to at least two of your classmates’ postings. Substantive responses use theory, research, and experience or examples to support ideas and further the class knowledge on the discussion topic.

 

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