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harkovskaia [24]
3 years ago
11

Why do consumers sometimes take a while to respond to price changes? -Consumers cannot find acceptable substitutes immediately.

-Demand sometimes becomes less elastic over time. -Price changes do not affect consumers. -Consumers need time to decide whether the good is a luxury or a necessity.
Advanced Placement (AP)
2 answers:
AVprozaik [17]3 years ago
8 0
Someone already answered it and i need to answer an extra question so ye
Phantasy [73]3 years ago
7 0

Answer:

Consumers cannot find acceptable substitutes immediately

Explanation:

Consumers need time to find a substitute that meets all the needs/wants and is provided at a lower cost

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