Multiple Choice
Some firms do not instantly adjust the prices they charge in response to changes in demand for all of the following reasons except:
A) it is costly to alter prices.
B) they do not want to annoy their frequent customers.
C) prices do not adjust when there is perfect competition.
D) some prices are set by long-term contracts between firms and customers.
Correct Answer:
Verified
Correct Answer:
Verified
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