In the long run,both supply and demand tend to become more elastic.This suggests that,in the long run,the

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In the long run, both supply and demand tend to become more elastic, meaning that producers and consumers are more responsive to changes in price. This indicates that a tax will lead to a greater reduction in quantity demanded and a smaller quantity supplied, resulting in an increase in deadweight loss compared to the short run. Thus, the deadweight loss from a tax will be greater in the long run.

In the Long Run,both Supply and Demand Tend to Become