Answer
No, prices in the economy are not all inflexible. Commodities like airline tickets and gasoline prices change relatively easily, hence it shows short-run flexibility. Commodities like coin-operated laundry fee, haircuts and newspapers don't change that easily, hence it shows inflexibility even over months and years.
Work Step by Step
No, prices in the economy are not all inflexible. Commodities like airline tickets and gasoline prices change relatively easily, hence it shows short-run flexibility. Commodities like coin-operated laundry fee, haircuts and newspapers don't change that easily, hence it shows inflexibility even over months and years.
