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27 April, 04:20

Why do consumers sometimes take a while to respond to price changes?

a. price changes do not affect consumers.

b. consumers cannot find acceptable substitutes immediately.

c. consumers need time to decide whether the good is a luxury or a necessity.

d. demand sometimes becomes less elastic over time?

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  1. 27 April, 04:44
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    B. consumers cannot find acceptable substitutes immediately
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