Which of the following best describes how the demand elasticity of a product might change over a longer time horizon?

Demand elasticity refers to how much the quantity demanded of a product changes when its price changes. Over a longer time horizon, demand for a product often becomes more elastic, meaning consumers become more responsive to price changes. This happens because people have more time to find substitutes or adjust their habits. For example, if the price of a specific brand of cereal increases, consumers might initially keep buying it, but over time, they may switch to a cheaper brand or a different breakfast option. Therefore, as time goes on, the demand for many products can change significantly as consumers adapt to price changes.