Businesses That Adjust Their Prices Upward in Response to High

question 4

Multiple Choice

Businesses that adjust their prices upward in response to high demand,consistent with economic laws of supply and demand,can experience which of the following outcomes:

• A)Underperform other businesses that consider the norms of fairness.
• B)Are punished by customers who are more sensitive to fairness than to economic rationality.
• C)Make larger profit than businesses that comply with norms of fairness.
• D)All of the above

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Definitions:

External Change Agents

Professionals from outside an organization who are brought in to facilitate change and offer unbiased perspectives on challenges.

Advantages And Disadvantages

The positive and negative aspects of a particular choice, situation, or action that need to be considered when making a decision.

Fear Of Failure

The apprehension or anxiety of failing to achieve a goal or meet a standard, which can influence behavior and decision-making.

Resisting Change

The reluctance or refusal to adapt to new procedures, processes, or changes within an organization or environment.