Suppose that the cost of wood for the furniture a shop makes and sells over the Internet increased by 20 percent in the past month. Although the cost to raise prices on its furniture is minimal, it does not increase prices at the present time. Why not? What is the economic term for the costs of raising prices? How could this affect the number of employees at this shop and its workload?

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The Answer of Suppose that the cost of wood for the furniture a shop makes and sells over the Internet increased by 20 percent in the past month. Although the cost to raise prices on its furniture is minimal, it does not increase prices at the present time. Why not? What is the economic term for the costs of raising prices? How could this affect the number of employees at this shop and its workload?

Suppose That the Cost of Wood for the Furniture a Shop