Is the demand for an addiction in the short run more elastic or less elastic than demand for an addiction in the long run?

Name: Discussion of elasticity of demand on addictive products and consumer behavior
Uploaded: 2021-09-10T16:17:04+00:00
Duration: 2 min 33 s
Description: Answer by Travis K. to Is the demand for an addiction in the short run more elastic or less elastic than demand for an addiction in the long run?

Question

Travis K. · Accepted Answer

Short version of the answer: less elastic in the short run than the long run.See video for more detail.

Is the demand for an addiction in the short run more elastic or less elastic than demand for an addiction in the long run?

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Is the demand for an addiction in the short run more elastic or less elastic than demand for an addiction in the long run?

1 Expert Answer

Still looking for help? Get the right answer, fast.

OR

RELATED TOPICS

RELATED QUESTIONS

What is economic profit and accounting profit with the information given?

Econ 101 help.

Cost of production of a small firm

which fact is not sufficient to show that planes R and S are perpendicular?

30% of all Girl Scout cookies sold are Thin Mints. If we select 9 boxes of cookies at random, what is the probability at most 5 of them are Thin Mints?

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