Consider the demand for cigarettes. Suppose the government decreases the price of cigarettes by lowering cigarette taxes.
How will this affect the demand for cigarettes over time?
If the price of cigarettes decreases, then the quantity of cigarettes demanded will
A. likely never change either initially or over time.
B. increase, and this effect will likely become larger (in absolute value) over time.
C. decrease, and this effect will likely become larger (in absolute value) over time.
D. increase, but this effect will likely become smaller (in absolute value) over time.
E. increase, and this effect will likely remain constant over time.