Menu Costs Are

question 91

Multiple Choice

Menu costs are

• A) the constantly changing resource prices that make planning for firms difficult.
• B) the advertised prices for final products that firms guarantee for a certain period of time.
• C) the cost of compliance with government regulations.
• D) the costs that deter firms from changing prices in reaction to demand changes.

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Definitions:

Labor

The use of mental and physical capabilities in the creation of products and services.

Efficient

Describes a system or process that achieves maximum productivity with minimum wasted effort or expense.

Needed Resources

Essential materials, funds, or personnel required for the execution of a project or the operation of an entity.

Payments

Transactions or transfers of money from one party to another, typically in exchange for goods, services, or to fulfill a financial obligation.