Explain what economists mean by “menu costs.” (select all that apply) A. Menu costs are the...

Explain what economists mean by “menu costs.” (select all that apply)

	A.	Menu costs are the costs to seller of changing their product line
	B.	Menu costs are the costs to seller of rapidly changing their prices.
	C.	Menu costs are the costs to the employer of buying dinner for the company party
	D.	Menu costs are the profit benefits to suppliers of rapidly changing their prices.

Expert Solution

The correct option is:

B.	Menu costs are the costs to seller of rapidly changing their prices.

Menu costs are the costs that come with changing prices. The implied example is the cost of a restaurant having to reprint all its menus.

Rahul Sunny answered 3 years ago

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