Multiple Choice
Resource prices that are fixed by long-term contracts help explain why, in the short run, firms will
A) increase output when product prices increase.
B) keep production levels constant when product prices decrease.
C) keep their product prices constant even if the demand for their good increases.
D) keep their product prices constant even if the demand for their good decreases.
Correct Answer:
Verified
Correct Answer:
Verified
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