For each of the following, discuss whether you expect the elasticity (of demand or of supply, as

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For each of the following, discuss whether you expect the elasticity (of demand or of supply, as specified) to be greater in the long run or the short run.
a) The supply of seats in the local movie theater.
b) The demand for eye examinations at the only optometrist in town.
c) The demand for cigarettes.
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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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