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QUESTION
B) Cigarettes. A) Crude Oil. 15. Which of the following is most likely to be elastic with respect to demand?
B) Cigarettes. A) Crude Oil. 15. Which of the following is most likely to be elastic with respect to demand? A) Crude Oil. B) Cigarettes. C) Gasoline in the short run. D) Airline travel in the long run. Quantity Quantity (C) (D) Which of the graphs in Figure 2 represents a more elastic response to a price increase for airline travel?
