Multiple Choice
In response to an unexpected change in demand, if the prices are free to adjust quickly:
A) a firm could always operate at its optimal output level.
B) a firm would experience a decline in its output and employment.
C) a firm would not be able to adjust its output according to the plan.
D) a firm would not be able to change its employment accordingly.
Correct Answer:
Verified
Correct Answer:
Verified
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