When prices are rising quickly, retailers will have to constantly change their prices. The cost incurred in changing prices is called a(n) _____.
A) ﬁxed cost
B) implicit cost
C) menu cost
D) out-of-pocket cost

Question

Quizplus · Accepted Answer

Menu costs are the costs associated with changing prices, such as the cost to print new menus in a restaurant or to update price tags in a retail store, especially relevant in times of high inflation.

When Prices Are Rising Quickly, Retailers Will Have to Constantly