(1 point)
Responses
Market prices are often set by buyers rather than by sellers.
Market prices are often set by buyers rather than by sellers.
Supply and demand are not well-understood by business owners.
Supply and demand are not well-understood by business owners.
The equilibrium is not always the most profitable price point.
The equilibrium is not always the most profitable price point.
It is not always practical for businesses to change their prices on a daily basis in order to reflect the equilibrium price.
1 answer
The most accurate reason from the provided options is:
It is not always practical for businesses to change their prices on a daily basis in order to reflect the equilibrium price.
This option highlights a common real-world constraint that prevents market prices from aligning perfectly with equilibrium prices, as frequent price changes can be costly and disruptive for businesses.
1 answer
1 answer
2 answers
1 answer