The price customers are willing to pay for a product depends, in part, on the availability of substitutes. The absence of close substitutes in the case of cigarettes means that consumers are comparatively insensitive to price increases. This makes demand for tobacco inelastic with respect to price. The buyer's propensity to substitute cigarettes for another product is largely dependent on their price- performance characteristics. The needs being filled by cigarettes are very complex. Cigarette companies …
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showed last 75 words of 8468 total
…amp;lt;Tab/> <Tab/>4.52<Tab/> <Tab/>5.21<Tab/> Industry Market Summary Cigarettes Composite Value: 1028.1 Today's Change: -0.34% S&P 500: -0.02% Range: 1d 5d 3m 6m 1y 2y 5y max Type: Bar | Line | Cdl Scale: Linear | Log Size: M | L Moving Avg: 5 | 10 | 20 | 50 | 100 | 200 EMA: 5 | 10 | 20 | 50 | 100 | 200 Indicators: MACD | MFI | ROC | RSI | Slow Stoch | Fast Stoch | Vol | Vol+MA | W%R