When Prices Are Rising Quickly, Retailers Will Have to Constantly

question 41

Multiple Choice

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

---

Definitions:

Smartphone

A handheld device that combines a computer, a mobile phone, and other functionalities like internet browsing and application usage.

Narrowcasting

The dissemination of information to a niche audience, as opposed to broadcasting to a wide audience.

Regional Music Festival

An event that features live musical performances, typically focusing on a specific genre or themes, and aimed at attracting attendees from a particular geographic region.

Outdoor Advertising

Advertising that reaches consumers while they are outside their homes, such as billboards, transit posters, and digital outdoor displays.