Because Many Resource Prices Are Set by Long-Term Contracts, in the Short

question 200

Multiple Choice

Because many resource prices are set by long-term contracts, in the short run

• A) costs will increase by more than product prices when demand increases.
• B) costs will decrease when the demand for products increases.
• C) costs will increase by less than product prices when demand increases.
• D) costs will decrease by more than product prices when demand decreases.

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