The costs incurred by merchants changing product prices (such as the costs of reentering prices into computer systems)are referred to as:

Question

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The costs incurred by merchants changing product prices are referred to as menu costs. These costs include the time and money spent on updating price lists, creating new labels, updating computer systems, and informing customers of the price changes. Menu costs are an example of fixed costs, as they do not vary with the level of output or sales.

The Costs Incurred by Merchants Changing Product Prices (Such as the Costs