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Compared with nonsmokers,smokers have at least a doubled risk of experiencing
Equilibrium Price
The price at which the quantity of goods supplied equals the quantity of goods demanded, leading to market balance.
Perfectly Elastic
A situation where a small price change results in an infinite change in the quantity demanded or supplied.
Supply
The total amount of a good or service available for purchase at any given price level in a market.
Inelastic Demand
A situation where the quantity demanded of a good or service changes very little when its price changes.
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