Time Horizons & Pricing
Short-run pricing decisions have a time horizon of less than one year and include decisions such as:
-Pricing a one-time-only special order with no long-run implications
-Adjusting product mix and output volume in a competitive market
Long-run pricing decisions have a time horizon of one year or longer and include decisions such as:
-Pricing a product in a major market where there is some leeway 余地 in setting price
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