The decision whether to change prices frequently,or infrequently,is an application of the

Question

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The decision of whether to change prices frequently or infrequently is an application of the cost-benefit principle. This principle states that decisions are made by weighing the costs and benefits of an action. In this case, the cost of changing prices frequently (such as the time and effort needed to constantly update prices) must be weighed against the benefits (such as being able to respond quickly to changes in demand or competition). Therefore, the best choice to apply here is the cost-benefit principle (choice D).

The Decision Whether to Change Prices Frequently,or Infrequently,is an Application