In general, a firm will be able to generate the greatest response to a price increase:
A) instantly
B) in one month
C) in six months
D) in two years

Name: In general, a firm will be able to generate the greatest response to a price increase: A) instantly B) in one month C) in six months D) in two years
Brand: Quizplus
Rating: 4.8 (29 reviews)

Question

Quizplus · Accepted Answer

In the long run, such as in two years, consumers and firms have more time to adjust to price changes, leading to a greater response.

In General, a Firm Will Be Able to Generate the Greatest