What Are Menu Costs

question 86

Multiple Choice

What are menu costs?

• A)the full list of a firm's costs of production
• B)the costs to a firm of changing prices
• C)the cost to a household of borrowing money when there is deflation
• D)the opportunity cost of dining in a restaurant instead of at home

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Definitions:

Respondent Behavior

A behavior that occurs as an automatic response to some stimulus; typically used in the context of classical conditioning.

Automatic

Operating or occurring without conscious thought or intention, often as a reflex or habitual action.

Novel

A long narrative work of fiction, typically published as a book and presenting characters and a plot in detail.

Adaptability

The capacity to adjust to new conditions or environments.