Why do consumers sometimes take a while to respond to price changes? a. price changes do not affect consumers. b. consumers cannot find acceptable substitutes immediately. c. consumers need time to decide whether the good is a luxury or a necessity. d. demand sometimes becomes less elastic over time?

Why do consumers sometimes take a while to respond to price changes?

B. Consumers cannot find acceptable substitutes immediately.

Although price changes can happen immediately, response times often take a bit because consumers are not able to stop purchasing a product as soon as the price rises. Usually, a consumer needs time to find a subtitute that still meets their needs for a lower cost. Overtime the rate of response to price changes because they are able to switch to a new brand.

compare your total monthly incoming with your total monthly outgoing. How balanced is your budget at this point? Remember that you estimated some of your expenditures. You can't know for sure until you actually track your expenses for at least a month and have real numbers to work with.

Step-by-step explanation: Basically it helps you decide how you want to manage your budget