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Unformatted text preview: after the 5 years have passed and decrease their smoking habits. c) The reason that teenagers have a higher price elasticity than do adults is because teenagers are more reckless in their spending. They usually dont tend to have a long-term vision of proper financial management, and thus are more likely to spend too much on a product and pay more than it is worth. Also, their money usually comes from their parents and ergo they have less appreciation for the value of a dollar and are willing to spend money more frivolously....
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- Fall '08