What explanations have economists offered for why firms don't raise prices when doing so would seem to increase profits? firms might not raise prices when doing so might increase profits because
a. consumers find it unfair for firms to increase prices after an increase in demand.
b. consumers find it unfair for firms to increase prices after an increase in costs.
c. firms are not concerned about profit in the long run.
d. the amount consumers wish to buy is unrelated to how much of the product other people are consuming.
e. both a and b.
Answers: 3
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