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

question 191

True/False

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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Definitions:

Percentage

A way of expressing a number as a fraction of 100, commonly used to compare proportions or calculate increases and decreases in value.

Recipients

Individuals or entities that receive something from another source, such as a service, product, or information.

Fan Source

A term not commonly used in a professional context, thus considered NO.

Social Media Users

Individuals who use platforms like Facebook, Twitter, and Instagram to create, share, or exchange information and ideas.