The money, time, and opportunity used to change prices to keep pace with inflation are called:

Question

Quizplus · Accepted Answer

The money, time, and opportunity costs used to change prices to keep pace with inflation are known as menu costs. This includes the cost of reprinting catalogs, updating price lists and websites, and communicating price changes to customers. These costs are incurred by businesses in response to inflation and are collectively known as menu costs.

The Money, Time, and Opportunity Used to Change Prices to Keep