The elasticity of demand for cigarettes is more inelastic in the long run than in the short run because it takes a long time for some people to quit smoking.

Name: The elasticity of demand for cigarettes is more inelastic in the long run than in the short run because it takes a long time for some people to quit smoking.
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Question

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The elasticity of demand for cigarettes is more elastic in the long run because over time, people have more opportunities to change their habits, find substitutes, or quit smoking.

The Elasticity of Demand for Cigarettes Is More Inelastic in the Long