Question
What is a reason that market prices are not always the same as equilibrium prices?
(2 points)
Responses
Market prices are often set by buyers rather than by sellers.
Market prices are often set by buyers rather than by sellers.
Supply and demand are not well-understood by business owners.
Supply and demand are not well-understood by business owners.
The equilibrium is not always the most profitable price point.
The equilibrium is not always the most profitable price point.
It is not always practical for businesses to change their prices on a daily basis in order to reflect the equilibrium price.